S&P 500 futures are down 0.4%
This is very much setting up to be a repeat of what we saw in late January and early February where higher yields sent markets panicking a little bit. There are hints of a risk off tone in markets today as Treasury yields continue to break higher. 10-year yields are up by 3.0 bps to 3.211%, the first time it has traded above the 3.20% level since 2011.
And so far, that's enough to cause nervousness among equity investors. Here's a look at Asian bourses:
- Nikkei -0.37%
- Hang Seng -1.86%
- Kospi -1.70%
- Taiex -1.31%
- Jakarta Composite -1.70%
- STI -1.00%
Add to the fact that the Chinese offshore yuan continues to be beaten down as well, it's little wonder why markets are in such a risk off mood to begin with. In the currencies space, the yen leads gains with the dollar and swissie not far behind. Meanwhile, the aussie and kiwi are the two currencies being weighed lower ahead of European trading.
