The Fuse
Equity futures are lower this morning, following through on yesterday’s wipeout. Today’s CPI for January is the big report coming this morning but bigger news is a potential government shutdown, third one in six months. Markets can only ignore this for so long.
Only a small decline in the STOXX index, off .1% which reflected down moves in France and Germany. FTSE added .1%, the US dollar index climbed .2% in a safety trade. Crude is down modestly, gold higher by nearly 1% and silver gaining about 2.2% in early trade. US 10 yr yields rose 2bps but German bund yields down 1bp, in Asia stocks were down hard, Japan off 1.2% with Hong Kong down 1.7% and Shanghai down 1.3%.
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