European indices are trading higher in the opening hour
The DAX is up 0.6% while most other European indices are holding similar gains as the risk mood is holding up after the drop yesterday. US futures have also turned around a decline in Asia to keep slightly higher now:
The improved risk backdrop comes as Treasury yields are finding some stability with 10-year yields seen at 1.334% currently, up from a low of 1.250% yesterday.
In any case, despite all the concerns and worries yesterday, there wasn’t much of a dent to the S&P 500 as the lows were only pushing to levels seen last week. Year-to-date, the index is still up 15% and closed the day just 0.9% off the all-time high.