The US stocks opened lower, but are seeing some buying after the first 6 or so minutes of trading. The major indices remain down but declines are somewhat modest given the sharp move in yields and expectations for much hawkish Fed as a result of the strong jobs report.
A snapshot of the market currently shows:
- Dow industrial average -183 points or -0.56% at 32543.82
- S&P -3.13 points or -0.73% of 4121.80
- NASDAQ index -125.56 points -0.99% at 12595.02
- Russell 2000-15.48 points at -0.81% at 1890.97
In the US debt market yields are sharply higher:
- 2 year 3.224%, +17.7 basis points
- 5 year 2.961% +16.5 basis points
- 10 year 2.823%, +13.3 basis points
- 30 year 3.066% +9.8 basis points
A snapshot of the forex marketis showing the USD is the runaway strongest of the major currencies. The JPY is the weakest followed by the AUD and NZD.