The big gains in Credit Suisse shares are being pared, with price just up 18% on the day now after having opened higher by 40% at one point earlier in the day. That has seen European indices trim their advance as well with the Eurostoxx and DAX now just up by 0.2% on the day. This comes as US futures also start to slip, with S&P 500 futures down 9 points, or 0.2%, currently.
In the bond market, we are also seeing some indecisiveness among traders. 2-year Germany bond yields are now up by just 18 bps to 2.56%, down from the highs earlier of 2.74%.
There's still a lot of tension in markets and it looks like traders are not going to get any less anxious as we approach the ECB later today.
