-
Markets Look for Direction
The biggest development today in the capital markets is the jump in benchmark interest rates. The US 10-year yield is up five basis points to 2.86%, which is about 10 bp above Monday’s low. European yields are up 9-10 bp. The 10-year German Bund yield was near 0.88% on Monday and is now near 1.07%. Italy’s premium over German is near 2.18%, the most in nearly three weeks. Although Asia Pacific equities rallied, led by Japan’s 1.2% gain, but did not include South Korea, European equities are lower as are US futures. The Stoxx 600 is struggled to extend a five-day rally. The Antipodeans are the weakest of the ... (full story)