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European equities open higher to start the day

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A light bounce after yesterday’s heavy decline

  • Eurostoxx +0.4%
  • Germany DAX +0.7%
  • France CAC 40 +0.6%
  • UK FTSE +0.6%
  • Spain IBEX +0.3%

Equities are breathing a little easier to get the session underway but it doesn’t take away from the sharp declines experienced yesterday. US futures are also modestly higher, with S&P 500 futures now up 0.5% on the day.

US 10-year yields are also keeping a decent bounce to 1.215% but that still pales largely in comparison to the near 11 bps drop from yesterday to a low of  1.174%.

In FX, the mood is still tentative with commodity currencies lower while the dollar is slightly firmer across the board with EUR/USD down to 1.1780.

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