European and Asian markets have rebounded after yesterday’s ugliness, perhaps emboldened by the end of market strength in U.S. markets yesterday. Britain’s FTSE and Germany’s DAX have rebounded 1.6% while France’s CAC is up over 2.4%. Asia is broadly up, but by less. Hong Kong’s Hang Seng is up over 1% while Japan’s Nikkei by just 0.7%. Mainland China’s CSI 300 is flat.
Gold is showing some strength, at $1,207, while light sweet crude oil has pushed back above $70. The German 10-year bond yield, which has been a flight to safety trade, rose slightly, as prices fell, to 3%.
The euro has edged back up over $1.23 and the Aussie dollar has stabilised.
U.S. stock market futures are pointing to a moderately positive open, with the Dow, S&P, and Nasdaq showing about +0.5% gains so far.
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