Asia closes softer as oil, yields and RBA hawkishness keep pressure on risk
S&P futures are up 0.2752% and Nasdaq futures are up 0.4614% from the latest read, but the S&P 500 ETF is down 0.7804% and the Nasdaq 100 ETF is down 1.0733%. The US 10-year yield is at 5.24, WTI crude is at 93.83, and dollar-yen is at 157.395.
Nasdaq 100 ETF down 1.0733%Tech lagged as risk assets stayed under pressure
S&P 500 ETF down 0.7804%Broad US equity weakness carried through into the Asia handoff
VIX up 8.0699%Volatility stayed elevated alongside softer equities
US 10-year yield at 5.24Yields stayed near multiyear highs as rate pressure persisted
Lead: Asia closed softer, with equities under pressure while futures steadied into Europe. S&P futures are up 0.2752% and Nasdaq futures are up 0.4614%, but the S&P 500 ETF is down 0.7804% and the Nasdaq 100 ETF is down 1.0733%.
Session narrative: The VIX is at 16.07, and the US 10-year yield holds at 5.24. Long-duration Treasuries are lower. Oil stays firm, with WTI at 93.83 and Brent at 99.38. Dollar-yen is at 157.395, keeping FX calm but still watchful.
Cross-asset check: Rates and energy remain the main drag on risk. Gold is at 4175.3, while silver is down 0.7421% and natural gas is up 0.5151%.
Themes & continuing stories: RBA Bullock said the bank will do what’s needed with rates. Middle East conflict is still feeding inflation and yield pressure.
What’s ahead: Europe opens with Euro Stoxx 50 and Stoxx 600 futures both up around 0.2%. Spanish inflation and retail sales, Italian PPI, and Eurozone economic sentiment are due next.