US yield curve flattens. Dollar is moving lower in the NY session
The major US stock indices are opening with gains.
- The S&P index is up 11.58 points or +0.46%
- The Nasdaq index is up 38.71 points or 0.58%
- The Dow is up 129 points or 0.55%
In the US debt market today the yield curve continues the flattening. 2-10s are 59 basis points the most narrow since October 2007.
- 2 year is at 1.75%, up 0.4 basis points
- 10 year is at 2.34%, down 2.6 basis points
- 30 year is at 2.74%, down 3.7 basis points
Gold has moved higher as it follows the USDJPY (or is the USDJPY following gold?). Gold is up $5.24 or +0.42% at 1282.91. Yesterday, gold tumbled as the USD moved higher.
At the start of the NY session the USD was less than 0.10% change vs most of the pairs (and mixed). Below is the current snapshot. The dollar is only higher vs the EUR now and that is by the slimmest of margins. Sellers are more in control now.
