AFP reports
This isn’t so much so a major surprise if you follow the closely. Even though COVID-19 patients requiring intensive care have fallen in recent weeks, that still hasn’t done much to ease the overall burden on intensive care units in general.

Five things to look for when there’s nothing to see
Headlines, financial TV and traders all love to focus on
fast-moving markets but if you know how to spot a crouching tiger, you’ll be the first to hear the roar.

Forex news for North American trade on March 12, 2021:
Markets:
– Gold flat at $1721
– S&P 500 flat at 3940
– US 10-year yields up 9 bps to 1.63%
– WTI crude down 42-cents to $65.61
The rise in Treasury yields had markets off balance coming into the day but this time was indeed different. A strong consumer sentiment

Nasdaq lags once again. Russell 2000 also closes at a record
The Dow and the S&P closed at another record high.  
The final numbers are showing:

Weekly 4X futures positioning data for the CFTC for the week ending Tuesday, March 9, 2021
Highlights:

Impressive milestone
History has shown many times that when the American war machine gets going it’s unstoppable.
Biden moved up the goal to full availability at May 1 this weekend. It looks like they could do it even faster. The good news is that the entire world is likely on a quicker curve as well.

Dow industrial average continues to lead the way and the Nasdaq lags far behind
The S&P index is traded to a new session high 3937.66. That took the price nearly to unchanged on the day. The current price is at 3937.31, down -2.03 points or -0.05%.

10-year Treasury yields are up over 7 bps at 1.612%
The market managed to catch some relief over the past few days as 10-year Treasury yields eased lower from 1.60% on Monday to a low of around 1.48% yesterday. But when sentiment turns, it sure turns rather quickly.

Tech bearing the brunt of the rise in yields today
This is hurting broader sentiment in general as well but not by a whole lot as the rise in yields is sticking around 1.60% for the time being (for 10-year Treasuries).

Latest data released by Eurostat – 12 March 2021
That said, overall industrial production is still working its way back to pre-virus levels but at least the tighter restrictions aren’t having much negative impact for now.