Thursday, February 15, 2018

Good morning-  Global equities are all higher to start this morning. In Europe, the Stoxx 50 is up 18 points, the DAX is up 5 points, and the FTSE is up 40 points. In Asia, the Nikkei is up 70 points while the Hang Seng is up a whopping 664 points. US stock futures are all positive after a big rally yesterday. The DOW is up 178 points, the S&P is up 11 points, and the NASDAQ is up 45 points. Oil saw a surge yesterday afternoon but is slightly down today, trading at $60.21. Treasury yields are mostly flat on the front end and slightly lower on the long end. That said, the 10yr treasury is unchanged from yesterday at 2.893%. With yesterday’s selloff in treasuries, credit traded lower and issuers backed out. In economic news, we’ll see PPI, Philly Fed, Industrial production, and jobless claims.