This snippet via a note from ING on falling equity prices on Thursday during US time:
- For the first time this week, we have seen some consistency from markets, as US stocks closed down for a second consecutive day after their roller-coaster ride earlier this week.
- There were some further Fed comments yesterday from Barkin along the lines of the Fed needing to “stay the course” on rates. But by now, such comments have to be viewed as part of the financial wallpaper and not contributing much to daily volatility.
- Bond yields reversed yesterday’s decline in yields. The 2Y US Treasury yield rose 6.1bp and the yield on the 10Y bond rose about the same to take it to 3.658%.
ICYMI:
As an update and following on from yesterday's heads up, BTC back to doing its thing as a useful leading indicator:
BTC/USD update:
