Things are beginning to turn a little sour
- S&P 500 futures -1.5%
- Oil -2.2%
- Germany DAX -1.5%
- 10-year Treasury yields down 4.1 bps to 2.766%
The yen isn't moving all too much yet but expect currencies to react more responsively if sentiment is reflected in the US cash equity market later. Almost all European equities have pared gains on the day and are trading at session lows currently. This comes as US equity futures are taking a tumble as well. E-minis are down by 1.5% on the day now.
At the same time, oil is also dipping by more than 2% to $42.20 currently. That is weighing on the loonie with USD/CAD trading near session highs at 1.3618 now.
I reckon we're in store for yet another wild session later in the day.
