Asia softer on oil and yields as Europe opens cautious
S&P futures are down 0.3876% and Nasdaq futures are down 0.9372%, while the US 10-year yield is at 5.18 and WTI crude is at 94.05. The VIX is at 14.87 and dollar-yen is at 157.604.
Nasdaq futures down 0.9372%Higher yields and oil are pressuring risk appetite
S&P 500 futures down 0.3876%Rates and energy are keeping buyers cautious
WTI crude up 1.7747%US-Iran tensions are lifting oil
US 10-year yield up 0.4262%Bond yields remain elevated
Lead: Asia close and Europe open are softer on higher oil and firmer yields. S&P futures are down 0.3876% and Nasdaq futures are down 0.9372%, while the ten-year yield is at 5.18 and WTI crude is at 94.05.
Session narrative: SPY and QQQ are higher on the day, but futures are under pressure. The dollar index is at 101.18, USD/JPY is at 157.604, and the VIX is at 14.87.
Cross-asset check: Gold is at 4208.4 and silver is at 61.99, both weaker. Brent is at 98.85. European equity futures are flat to slightly higher.
Themes & continuing stories: Oil and geopolitics remain the main driver, with US-Iran tensions still unresolved. Elevated yields are keeping long-duration assets under pressure.
What’s ahead: Later this week brings Europe inflation data, US jobs data, the PCE Index, and China PMI data.