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.

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