Sentiment is mixed across major asset classes at the start of the session:
- Equities:
US equity futures saw a pop higher yesterday with the move lower in yields and are still trading positive but very marginal flows so far. EMEA futures are trading lower.
- Commodities:
After yesterday's strong extension in commodities, it probably shouldn't be too much of a surprise to see some of the moves pullback a little, with gold and silver lower on the session, with oil prices close to flat and copper still holding on to yesterday's highs.
- Bonds:
Mostly lower across the board with 2's, 5's and 10's seeing red (pushing yields higher), but the moves have been pretty marginal for now.
- FX:
The AUD and NZD is taking full advantage of the upside in commodities with strong outperformance, while the three safe havens are leading the majors to the downside. The CHF the weakest after the miss in Swiss CPI data.
