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US futures keep lower ahead of North American trading

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Risk sentiment remains more dour on the day

Delta variant concerns have been a key driver of sentiment since Friday and New Zealand entering a nationwide lockdown today only adds to the recent woes, with Japan also officially extending (and expanding) state of emergency measures.

SPX

S&P 500 futures are down 0.4% while 10-year Treasury yields are also near the lows for the day, down by over 3 bps to 1.223% currently.

Even though dip buyers in US equities managed to carve out a victory in the past few sessions, today will be a tall order given the risk aversion in broader markets.

Looking towards North American trading, US retail sales will be the next key risk event to in gauging consumption activity for July to see if the delta variant has had any major impact that could dampen the outlook before Jackson Hole next week.

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