Last week was the worst one for US stocks since March 2020 but this abbreviated week is starting with a better tone. S&P 500 futures are up 1.6%, or 59 points.
The bond market has been the linchpin for equities and everything else for months. At the moment, US 2-year yields are up 2.4 bps to 3.19% after trading as high as 3.25%.
