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Today's Top Market Headlines – Jan 10, 2018
Time for a breather: Stock rally takes a break to recouple

Big news of the day – 10-year US yield richest highest since March


Investors thought it’s high time they took and breather today from the past days of gains. They digested the news of the surge in US bond yields, which pierced through 2,5% for the 10-year for the first time since March.

Stoxx Europe 600 looks like it’s heading to its first red session in six days. That was followed by retreats by most Asian indices.

Getting back to the bonds story: Interesting why the spike happened – bond veteran Bill Gross declared bear market on Tuesday.

WTI kept creeping further up at the backdrop of declining US stockpiles for an 8th week in a row. Prices are currently at a more than three-and-a-half-year peak.

In Japan the yen went up for a second day in a row. The reason’s the same as yesterday – reduced BoJ buying of long term bonds.

China just made a pulp outta US debt

Gold, euro and the Swiss franc ripple through the ceiling


Today it’s all about comments hating on US Treasuries. First it was Bill Gross and now a Chinese official said that you should be cautious with US debt.

As a result the euro, Swiss franc and gold shot up. The US 10-year yield went as high as 2.59% – just 3 bips from its March peak.

The S&P 500 looks like it’ll go for its first decline for the year. The dollar fell the most against G-10 peers.

WTI jumped past $63 a barrel after the government showed inventors fell. The yen climbed for a second day in a row.

We’ll probably have a few days of low volumes as investors asses where Treasuries will go from here.