The Fuse
What are futures doing?
Weaker futures this morning as the Industrials are taking the most punishment. Back from a holiday often sees some giveback, in this case followthrough from Friday’s losses.
News
STOXX was flat but Germany and France posted small losses. Stocks in Japan were down 1.3% on volume, Shanghai up slight with Hong Kong down a bit. The dollar is weak, crude oil rising about 2%, silver higher while gold is retreating a bit. Bunds in Germany were down with yields up, same for the US 10 yr treasury – pushing through 4.8%..
Volatility
Volatility is up slightly this morning as we often see following a 3 day weekend. Still, under 16% is not going to damage markets too much, but a rise up will certainly wake up the bulls, who are sleepwalking as the market rises.
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