The major US indices are trading mixed/little changed after PPI inflation surges to a new all-time high (11.2% versus 10.6% estimate year on year).
A snapshot of the major indices currently shows:
- Dow industrial average up 79 points or 0.25% at 34309
- S&P index up 5.8 points or 0.13% at 4403.50
- NASDAQ index -1.11 points at 13372
- Russell 2000 up 10.16 points or 0.51% 1997.05
In other markets:
- Spot gold is trading up $12.00 or 0.61% at $1978.18
- WTI crude oil is trading up $1.99 at $102.51
- Bitcoin moves back above the $40,052
In the US debt market, yields have moved lower. There was a report earlier that Russia will consider US and NATO vehicles carrying weapons on Ukrainian territory as legitimate military targets. That seemed to have led to a flight to safety flow into US treasuries .
- Two year yield 2.315%, -9.4 basis points
- five year yield 2.605%, -8.6 basis points
- 10 year yield 2.682%, -4.5 basis points
- 30 year yield 2.808%, minus one basis point
The U.S. Treasury will auction off 30 year bonds at 1 PM ET. Yesterday the 10 auction was a big dud with a three basis point tail and little demand from international investors.