ozgurdonmaz
Major market averages started Monday’s trading session off higher following a second-straight down week for equities.
Early on and the Nasdaq Composite (COMP.IND) was +0.5%, the S&P 500 (SP500) was +0.3%, and the Dow (DJI) was flat.
“In the past week we have seen the highest weekly close for 10yr Treasury yields in 9 months (amid elevated rates vol), the weakest start to the month for equities since March, the weakest week for US semiconductor stocks (SMH) (SOXX) since last October and oil prices (CL1:COM) (CO1:COM) reaching a 9-month high,” Deutsche Bank’s Henry Allen said. “We’ll see if a full August lull takes over this week.”
The 10-year Treasury yield (US10Y) rose 2 basis points to 4.18%. The 2-year yield (US2Y) gained 5 basis points to 4.94%.
See how yields are trading across the curve.
“In early Asian trading today, the Japanese yen (USD:JPY) breached the key 145 level, falling to its lowest of the year against the dollar,” Allen said. “This raises questions about possible BoJ intervention or scope for BoJ to accept higher JGB yields to support the yen.”
See how the greenback (DXY) is trading against other major currencies.
