There’s a finely-balanced interaction in markets proper now: rising yields sap shares and the bond market is unstable. Today yields have risen on the again of oil, which jumped after the Keystone pipeline was shutdown because of a spill.
In flip, a 0.5% rise in US fairness futures was initially halved however we’re not at that degree with the S&P 500 up 21 factors.
However if shares proceed to fall the greenback catches a bid and the rally in commodities reverses. That creates a push-and-pull that gravitates in the direction of stability.
One factor that would tip the apple cart is a continuation of tax-loss promoting, which seems to be weighing significantly onerous on tech shares.
