<p style=““ class=“text-align-justify“>The lack of any negative headlines in itself is a positive development, and that is what’s helping broader market sentiment today I would say. The banking turmoil has caused plenty of panic and worries but it looks like we are finally seeing traders and investors breathe a much needed sigh of relief.</p><p style=““ class=“text-align-justify“>2-year German bond yields are now 20 bps today to 2.52% while 2-year Treasury yields are up 15 bps to 4.07% at the moment.</p><p style=““ class=“text-align-justify“>It still doesn’t take away from the plunge that we have seen in the past week or so but it is at least a start. That indicates safety bets are starting to abate and we are seeing equities benefit as a result. Here’s a snapshot of things in Europe:</p><ul><li>Eurostoxx +1.8%</li><li>Germany DAX +1.7%</li><li>France CAC 40 +1.7%</li><li>UK FTSE +1.4%</li></ul><p style=““ class=“text-align-justify“>Meanwhile, S&P 500 futures are also seen up 25 points, or 0.6%, at the moment with Dow futures also seen up 0.6% and Nasdaq futures up 0.3% on the day.</p><p style=““ class=“text-align-justify“>In FX, things are more mixed though but the Japanese yen is among the laggards as bond yields climb higher. USD/JPY is up 0.8% to 132.30 levels now with the dollar sitting more mixed – down against the euro and franc but up against the pound and antipodeans.</p>
This article was written by Justin Low at www.forexlive.com.