Asia softer into Europe as yields stay high, crude firmer, VIX elevated
S&P futures are modestly lower, Nasdaq futures are also down, and the ten-year yield is at 5.11 while WTI crude is at 92.31. The dollar index is steady at 101.09 and dollar-yen is at 158.391.
S&P 500 futures -0.3828% day, -0.1322% 1hRates remain elevated and equity sentiment is soft
Nasdaq futures -0.5672% day, -0.3266% 1hGrowth shares are still under pressure from higher yields
US 10-year yield 5.11, +2.9388% dayYields stay high and drive the macro tone
WTI crude 92.31, +0.1628% dayEnergy stays bid
Lead: Asia closes mixed to weaker as Europe opens, with rates still doing the heavy lifting. S&P futures are lower, Nasdaq futures are lower, and the ten-year yield is at 5.11.
Session narrative: Risk assets remain under pressure. The VIX is at 15.18, TLT is at 80.47, and the dollar index is steady at 101.09. Euro-dollar is at 1.1392 and dollar-yen is at 158.391.
Cross-asset check: WTI crude is at 92.31 and Brent is at 98.34, keeping energy in focus. Gold is at 4318.8.
Themes & continuing stories: Higher yields remain the main macro story. Energy is firmer, while equities are softer into the Europe open.
What’s ahead: Watch the Europe open, the ten-year yield, and crude for follow-through.