Futures are implying a lower levels for the major indices
The financial futures for the equities are implying a lower opening. The indices have been moving lower since peaking earlier in the New York session
- S&P index -15 points
- Dow industrial average -72 points
- NASDAQ -143 points
Yields moving higher are a catalyst. The 30 year yield is up 9.72 basis points. The 10 year yield is up 7.8 basis points. Both are at new cycle highs. The 2 – 10 year high is also trading at the highest level since 2016. The spread reached 129.99 basis points. It currently trades at 129.50 basis points.