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Real Yields Weighing On Equities

US STOCKS
  • The S&P E-mini remains under pressure, just off a session low of 4147.5 (-0.6%) as it unwinds half of yesterday’s push higher.
  • It comes with the 10Y real yield pushing back towards session highs sees after retail sales, currently +6bps on the day with real yields behind nearly of the sell-off in nominal yields.
  • Nasdaq sees larger declines (-0.8%), whilst in banks, the KBW index (+0.9%) sees striking contrast between large banks after positive earnings this morning and regionals (-2.2%).

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