Global Bond Yields Are Rising Too (And That’s Important)

What’s in Today’s Report:

• Global Bond Yields Are Rising Too (And That’s Important)

Futures are modestly lower following a quiet night of news as global bond yields remained buoyant.

Bond yields were slightly higher earlier this morning and  they are holding this weeks’ gains, and absent any other notable news that weighed on global stocks and futures.

There was no notable economic data other than the Australian Labour Force Survey which met expectations.

Today economic will be in focus and if the data comes in better than expectations, look for the 10 year yield to rise further (and that could put a headwind on stocks and tech especially).  The key reports today are: Jobless Claims (E: 757K), Philadelphia Fed Manufacturing Index (E: 20.0) and Housing Starts (E: 1.650M). We also get two Fed speakers, Brainard (8:00 a.m. ET) and Bostic (10:00 a.m. ET) but we don’t expect them to move markets.