This isn’t the start to the year that equity bulls hoped for.
After yesterday’s rout, S&P 500 futures are down 24 points, or 0.5% while Nasdaq futures are 0.7% lower.
The market isn’t getting any help from fixed income where yields have extended gains to 3-5 bps across the curve. Ten year yields are now just below 4%, which isn’t going to help.
US 10 year yields 30 mins