What are traders talking about this morning? Another huge rally in Asia ...

Via Dave Lutz at JonesTrading, here’s a quick guide to what traders are talking about this morning.

Good Morning! US Futures are lower this AM, as money flows into the Treasury market early. European markets, however, are all higher and nearing records as Greece makes a €448m payment to the IMF. DAX is 50bp higher and EuroStoxx 70bp in very light volumes — with a big rally in Consumer Discretionary shares the tailwind, while the Big Banks are feeling some weight. Another Wild Ride over in Asia, as the Hang Seng jumps 6%+ on the open before closing “only” up 2.7%. In heavy trade as Chinese quotas expand over HK Connect (FXI up almost 2% early). Shanghai’s exchanged suffered from the outflows — losing 1% in heavy trade. India’s Nifty Gains 60bp After Moody’s Upgrades Rating Outlook, while Aussie fell under pressure as Ore and Energy shares dropped.

The 10YY is under some pressure, and continues to hover around 1.88% – While Germany’s 10Y Bund Yields have taken out recent lows and collapsed towards 15bp this AM, and Headlines Swiss sell 10-year debt at negative yield continues to propel flows into Sovs. The DXY is higher, staying above 98 in a early retest, making gains against Euro while losing some ground against Yen (Back under Y120). Commodities have a headwind from this, and Gold is off small, back under $US1200, while Silver is getting hit for another 1% early. Copper is buckng the trend, while the Oil complex stages a rally from the smackdown yesterday — it’s worst in months. Natty gas is up 1% into inventory data. Scheduled Catalysts today include weekly claims data at 8:30 — Wholesale Inventories at 10am, followed by Natty inventories at 10:30. WASDE Data for Agriculture at high noon — and a 30Y auction at 1pm to close the excitement out.

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