Bulls, United States, Opec discussed on 0 Show
Forty seven minutes into the equity trading session in Europe and seeing a third day of losses for the stock. Six hundred down one point four percent losses across all of these main regional equity benchmarks the Footsie-100 on the back foot by one and a half percent. The CAC forty moves lower by one point six percent. The Dax leading the losses down one point eight percent in the footsie men down one and a half percent as well. But look it was really the US futures that set the tone during the Asian trading session. S&p futures down one percent. Nasdaq futures leading losses down one point three percent. And Dow futures also lower by one point two percent, remember because yesterday we had an unusual trading day a shorter trading day that previous to that. We had seen losses of more than three percent across all three of these US benchmark to the bulls caught really catch a break. We saw a week session in Asia as well. What are the bond markets telling us though, over the direction -ality markets from here because the ten year yield? Earlier breached the two ninety handled to the downside down some three basis points steady. Now two point nine percent on that ten year yield. Meanwhile, yes, we've seen inversion on parts of the US curve but the twos. Tens let's watch that. We're actually seeing a little bit of steepening right now. It was flattening early. We got ten basis points where over twelve now still though at the lowest or at least the near the lowest since two thousand and seven elsewhere in European bomb markets, the tenure boondoggles six months low yesterday. We continue to move lower today down two basis points over on twenty six basis points on that tenure bungee the tenure Guilio moves lower. That's interesting because it moved high yesterday on a little bit of Brexit optimism. The BP yield moves up by three basis points in terms of FX, again Cable's been interesting because it's taken a little bit of a leg lower today after some optimism yesterday. The dollar is on the front foot overall. We have seen some money move into the yen though, without safe haven being bid and oil. We've got to end with that a big big day. Ahead for OPEC, of course. But the oil market perhaps a little skeptical about what kind of cuts we might get we need to hear the detail. We need to hear the messaging WTI down seven.