S&P 500 Futures dribble at six-week high, yields dwindle amid mixed concerns about inflation, Fed – by anilpanchal7 SP500 Futures YieldCurve Fed Inflation
S&P 500 Futures seesaw around multi-week high, prods four-day uptrend of late.OPEC+ shock gains mixed response amid downbeat US data, geopolitical challenges test optimists.
While portraying the mood, the S&P 500 Futures seesaw around 4,151, after rising in the last four consecutive days to refresh a six-week high. On the other hand, the US 10-year and two-year Treasury bond yields also remain inactive around 3.42% and 3.98% after the longer-term bond coupons dropped in the last four consecutive days to 3.42% while the shorter one marked a two-day downtrend in the last to 3.97%.
However, softer US data and yields allowed traders to remain optimistic, especially amid the receding hawkish Fed bets. On Monday, the US ISM Manufacturing PMI dropped to the lowest levels since May 2020 in March, to 46.3 versus 47.5 expected and 47.7 prior. On the same line, the final readings of March’s S&P Global Manufacturing PMI eased to 49.2 compared to 49.3 initial estimations.
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