S&P 500 futures are now up 24 points, or 0.6%, on the day as stocks are being bid up since European traders got to their desks this morning. European indices themselves are now up around 1.3% to 1.8% across the board and that is helping to underpin risk assets in broader markets on the session.
S&P 500 futures
The dollar is being dragged further down as a result, with EUR/USD rising up by 0.5% to 1.0620 and AUD/USD up 0.8% to a high of 0.6442 on the day. USD/CAD is also down 0.3% to 1.3810 as oil prices are up nearly 2% with WTI crude hovering closer to $82 again at the moment.
This all comes after the rally yesterday, which includes that of the bond market. I would say the plunge in yields overnight has a lot to do with the more upbeat market mood now as we could be seeing a further squeeze in Treasuries after the rout in recent months.