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.

The strongest to the weakest of the major currencies