I would say market sentiment is more cautious as we await US PCE data later today. Here’s a snapshot of the equity space right now: Eurostoxx 0.1D Germany DAX 0.1D France CAC 0 Flat UK FTSE 0.1D SandP 500 Futures -0.3D Nasdaq Futures -0.5Dow.5Dys.Movest -0.5Dys. a lot in the last sessions. Wall Street in particular has seen heavy buying over the past couple of days, so caution is warranted here as the SandP 500 looks for a technical breakout. SPX As mentioned earlier, I would be more convinced of this break if we saw a push above 100 – which would also break the December highs. Elsewhere, major currencies continue to show little appetite and key dollars remain in play as outlined here. Bond markets continue to impress today with moderate selling pressure. The 10-year Treasury yield is currently up nearly 6 basis points to 3.561 percent, but remains in the range of the past two weeks.

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