The Selloff in global equities continued yesterday as Treasury Notes pulled back a bit from their biggest move since 2016 as investors continue to go risk off, hedging their risk as there’s an expectation of an earlier rate hike, even though the Fed vowed there won't be for the foreseeable future. Inflation is very much the driver behind the rising Bond Yields and drop in the equity market.
The Dow and S&P erased all gains from the Wednesday as they closed the day lower with Nasdaq continuing its selloff closing the day at 12787.
Gold continued to drop as yields tarnished the precious metal closing out the day at 1770 which is quite a significant support level, however it broke in the early hours of this morning pushing down to 1757.
Keep an eye out for the Revised Inflation Expectation coming out this afternoon.
10:00am - KOF Economic Barometer (CHF)
4:45pm - Chicago PMI (USD)
5:00pm - Revised UoM Inflation Expectation (USD)
All Day - G20 Meetings