I find it surprising that US Treasury yields are lower today given the potential for energy-driven inflation in the months ahead. US 2s rose up to 4.13% but are back to 4.08% and near the lows of the day. Longer-dated US yields are lower on the day as well.
Eyes are on energy companies after the OPEC surprise but don't forget it's the start of a new quarter as well, so flows are going to be a factor.
S&P 500 futures are 5 points, or 0.1%, lower while Nasdaq futures are down 0.7%. The Nasdaq on Friday challenged the January high.
