Markets
Markets Today: Equities Drift, Yields Hold, and the Fed Watch Resumes
The S&P opened flat, the ten-year is anchored at 4.18 percent, and crypto is grinding higher as traders wait for tomorrow's CPI print.
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U.S. equities opened the week on muted footing, with the S&P 500 trading within a quarter percent of Friday's close. Volume was thin, a familiar pattern in the session before a major inflation print.
Bond markets are similarly anchored. The ten-year Treasury yield sat at 4.18 percent through the morning, with traders unwilling to commit capital in either direction until tomorrow's CPI release confirms or contradicts the disinflation narrative.
The day's most interesting tape is in crypto. Bitcoin grinded above $72,000 in overnight trade, with Ethereum tracking higher on continued ETF inflows. Several macro funds have quietly added to their digital-asset sleeves over the past fortnight.
Watch list for tomorrow: CPI at 8:30 ET; a 10-year auction at 1:00; and after the bell, results from a regional bank widely seen as a bellwether for commercial real estate exposure.
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