Tuesday, November 21, 2017

Good morning-  Global equities are all in the green to start this morning’s session. Automakers and insurance companies are pushing European markets higher with the Stoxx 50 up 23 points, the DAX up 112 points, and the FTSE up 20.5 points. In Asia, the Nikkei is up 170 points while the Hang Seng is up a whopping 282 points. Stock futures in the US are all positive as the dollar slips and bonds rise. The DOW is up 100 points, the S&P up 8.75 points, and the NASDAQ is up 29 points. Oil is almost unchanged at $56.44/bbl. With respect to rates, the yield curve continues to flatten with 2y/10y below 60bps. The yield on the 10yr UST is down roughly 1.5 bps  to 2.356%. Aside from existing home sales, there is no economic data scheduled for today.