US Equity Futures Posting Strong Early Monday Gains

Positive US equity market momentum is evident in early Monday trade. US equity futures are posting firm gains led by the Nasdaq, up nearly 0.70% in the futures space while Eminis are around 0.35% higher.

• This follows a strong end to last week for both the SPX and Nasdaq cash indices. The SPX closing at a fresh all time high near 4840. Optimism around the tech demand outlook continues to be a key driver of sentiment (the Nasdaq cash index up 2.26% last week).
• Regional equity markets have opened firmer this morning, led by Japan (Nikkei +1.40%).
• In the FX space, NZD (up over 0.40% to 0.6135/40), and AUD (+0.20% to 0.6610/15) are leading the moves, although all the majors have a firmer bias against the USD (BBDXY off 0.10% to 1234).
• For US yields, early gains have eased somewhat, and we are back close too unchanged. US 10yr near 4.12%, 2yr at 4.39%.