Equities higher, dollar steady even as yields tick slightly higher
European equities are holding modest gains to start the session, with US futures also keeping a more positive spirit for the time being. S&P 500 futures are up 0.6% while Nasdaq futures are up 0.8% though just off earlier highs on the day.
That said, keep an eye on the bond market as Treasury yields are starting to creep higher once again. 10-year yields are up 4 bps to 1.43% at the moment:
However, that is still keeping within the range of what we're seeing so far on the week. There have been a couple of bursts higher in yields but nothing that has rattled the market so far. If it starts to push 1.45% or higher, then perhaps we may see some spillovers.
In FX, the dollar is keeping steadier as narrower ranges continue to play out. EUR/USD touched a high of 1.2108 earlier in the session but rejected its 100-hour moving average and is trading back to 1.2080 currently.
