Stocks lower with US 10-yr yield remaining elevated

Stocks lower with US 10-yr yield remaining elevated 150 150 Realm

UK and European stocks have opened lower this morning. US stock index futures are also down a little. Markets will be monitoring moves in the Turkish currency and stocks after the Turkish Lira fell heavily. The volatility was caused by President Erdogan replacing the central bank chief following an interest rate hike that the President opposes. Investors will be closely watching banks with exposure to Turkey.

Markets struggled last week after the benchmark US 10-year Treasury yield rose above 1.7%. This morning the yield remains close to that level, with futures rising over the weekend.

US unemployment claims rose more than expected last week. Market attention will be on Fed Chairman, Jerome Powell, who is due to speak on Tuesday, as is Bank of England Governor Andrew Bailey.

 

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