Futures Signal Lower Open
11-Jun-13 09:13 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -14.30. Nasdaq futures vs fair value: -28.30. The S&P 500 futures trade lower by 0.9% as today's session sets up for a cautious open. Overnight selling interest began mounting after the Bank of Japan concluded its latest meeting by announcing no new changes to its policy stance. This was a disappointment as some investors had hoped the central bank would take steps to curtail bond market volatility or increase its ETF purchase program.
The weakness in global equities has been mirrored by weakness in bond markets. The U.S. 10-yr has climbed off its lows, but its yield remains higher by three basis points at 2.256%.
Overseas, European yields have caught the attention of market participants. In particular, the Greek 10-yr yield is higher by 51 basis points at 9.95% after the country was unable to sell a stake in a natural gas producer. Elsewhere, Italian and Spanish yields are higher by 13 basis points each, at their respective 4.38% and 4.71%.