European equities lower at the open

  • Eurostoxx -0.6%
  • Germany DAX -0.7%
  • France CAC 40 -0.6%
  • UK FTSE -0.3%
  • Spain IBEX -0.3%

It’s not a good look for stocks towards the end of the week as we are seeing markets start to make a move now on the day. The dollar continues to march higher, with USD/JPY now up 0.5% to 136.50 levels. The climb is backed by higher bond yields, with 10-year Treasury yields up over 6 bps to 2.943% at the moment.

Elsewhere, US futures are also down on the day with S&P 500 futures lower by 0.5%. The rejection earlier in the week at the 200-day moving average might be cause for an extension to the downside now.

James Rogers

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