European equities open lower to kick start the day

  • Risk tones more on the defensive today
  • Eurostoxx -0.4%
  • Germany DAX -0.4%
  • France CAC 40 -0.6%
  • UK FTSE -0.5%
  • Spain IBEX -0.4%

This mirrors the retreat in US futures, with S&P 500 futures down 17 points, or 0.5%, as we get things going on the session. Broader market sentiment is leaning towards the softer side to start the new week, following headlines that China isn't looking to significantly move away from its zero-Covid policy.

That is keeping the dollar higher to start the session with 10-year Treasury yields also up 2 bps to around 4.18% now.

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