- S&P 500 Futures struggle to tame bears amid mixed clues.
- Australia’s largest state by population eases virus-led restrictions.
- Geopolitical risks, mixed comments from the Fed and vaccine optimism also confuse traders.
S&P 500 Futures hold 3,900, currently up 0.07% around 3,903, during the early Wednesday. In doing so, the risk barometer jostles with the mixed headlines that fail to bear the US bond bears.
US 10-year Treasury yield drops to the fresh low since March 16 while printing three basis points (bps) of intraday loss to 1.60% by the press time. On the other hand, stocks in Asia-Pacific currently trades mixed while Wall Street painted red the previous day.
Read: Wall Street Close: Stocks drop into the close, weighed by strong buck, weak crude and tax hike talk
Mixed signals from Fed policymakers and extension of the virus-led lockdowns in Europe have been major reasons for the risk-off. The same ignores the latest updates suggesting the ease of the covid-led activity restriction in Asia and vaccine optimism at the US and European Union (EU).
However, geopolitical challenges emanating from North Korea and China have been challenging the mood while US Treasury Secretary Janet Yellen’s cautious optimism fails to entertain market players amid a light calendar.
Moving on, US Durable Goods Orders for February and Fed Chairman Jerome Powell’s second innings in Congress will be the key. However, the US Treasury yields will be in the spotlight amid chatters of another fiscal stimulus from the Biden administration.
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