US 10-year yields up 9 bps to 1.465% currently
That is pushing Nasdaq futures to fresh lows on the day, down 1% as the rotation out of tech starts to border on the line of risk aversion flows in the market now. Dow futures have also turned flat with European indices falling into the red as

10-year bund yields rise to -0.255%, the highest since March last year
As earlier, if it didn’t work with Lagarde, it isn’t going to work with Lane.
mentioned

Kyodo News reports on the matter
This will apply to the prefectures of Osaka, Kyoto, Hyogo, Aichi, and Gifu – most of which were already anticipated since last week. Tokyo will likely have to wait until 7 March before its state of emergency is lifted but there’s still some debate on that before a formal decision

Remarks by ECB chief economist, Philip Lane
earlier in the week, it isn’t going to work here. As long as Treasuries continue to steepen, European bond yields will also face a similar phenomenon.

Latest data from the Mortgage Bankers Association for the week ending 19 February 2021
–  -5.1%
– Market index 790.6 vs 892.6 prior
– Refinancing index 3,848.1 vs 4,337.0 prior
It looks like the housing market is not taking too kindly to the higher rates as both purchases and refinancing activity took a heavy dip in the past week. After

We’ll be hearing from a couple of Fed policymakers today with Powell set to testify in Congress for a second day
Here’s the agenda:
1500 GMT – Fed chair Powell testifies before the House select committee
I wouldn’t expect anything new from Powell that we haven’t already heard of yesterday. But again, it will serve as a reminder

Kyodo News reports on the matter
The report cites remarks by Japanese prime minister, Yoshihide Suga, in saying that the decision will be taken on Friday as to whether or not they will end the state of emergency measures in place that is set to run through to 7 March.

The BOE will be due to testify before the Treasury Select Committee on monetary policy later today
Here’s the agenda:
1200 GMT – BOE’s Haldane speaks in a seminar
Haldane will be making a speech in a flagship seminar on the changing world of work, wellbeing and management. As such, I wouldn’t expect much policy remarks, if any

S&P 500 futures and Nasdaq futures turn flat
Of note, Nasdaq futures have erased a 1% drop from the tail-end of Asian trading as sentiment improves in European morning trade so far.

Latest data released by CBI – 23 February 2021
CBI notes that:
„With lockdown measures still in place, trading conditions remain extremely difficult for retailers. Record growth in Internet shopping suggests that retailers‘ investments in online platforms may be paying off, but the reopening of the sector can’t come soon enough to protect job losses and breathe