European indices are seeing gains of ~1% and S&P 500 futures are up 0.5% currently. That is hinting at a rather optimistic end to the week, after the rough period initially amid higher bond yields. The solid rebound yesterday is carrying over to today and it is very much helping with sentiment. The Nasdaq in particular seems to be what is holding things together. Yeah, I know. Tech stocks. Pfft.
Lower Treasury yields is adding to the better mood for risk trades today and in somewhat unbelievable fashion at one point, stocks might just end the week with gains. That being said, how much of this can be chalked up to month-end and quarter-end flows will remain to be seen. But at least for now, the technicals are also holding up as per the above.
