Flattish tones observed in early trades
- German DAX futures +0.1%
- UK FTSE futures +0.1%
- Spanish IBEX futures flat
This also mirrors the flat tones seen in US futures to start the day, with equities taking more of a breather as we get the session underway.
The market focus will be shifting towards the Jackson Hole symposium in the next day, so we could be in for a more wait-and-see approach today.
In any case, keep an eye on Treasuries with yields continuing to creep higher on the week. 10-year yields are up by 3 bps to 0.714% and that will be a spot to watch for yen pairs and the dollar in case it starts to challenge the 13 August high @ 0.725%.
