The major US stock indices are set to open higher with the NASDAQ index now trading to the upside as the clock ticks toward the opening bell. The S&P and Dow had erased their earlier losses. The NASDAQ is up about 3 points. The S&P index is up about 13 points, and the Dow futures are implying a gain of about 160 points

The Bank of England coming in and saving the bond market has stemmed some of the negativity and led to a rebound in markets at least for the time being. The 30 year UK bond is now trading at 3.952%. That is down from a high of 5.12% earlier in the day. There 10 year yield is down less trading down 42 basis points on the day at 4.054%. It reached a high of 4.582% before rotating to the downside.

The pound spiked up to the high from yesterday near 1.08366, but then rotated back to the downside a currently trades at 1.06505. That's still down on the day September 22.