And that is weighing on broader market sentiment again, as traders and investors are pumping the brakes on the supposed narrative that central banks - in particular, the Fed - is going to ease up on the tightening cycle. Equities are lower again today with European indices posting roughly 1% losses now and S&P 500 futures are down 0.8%.
Looking to Wall Street later today, it will be a tricky one to work out especially with the S&P 500 index having sought a breakout move last week but is also running into resistance near its 100-week moving average (red line):
Meanwhile, bonds are selling off again today with 10-year Treasury yields up 7 bps to 3.595% as the 200-day moving average (blue line) continues to be a key line in the sand for yields at the moment:
