There will be “trouble for equity markets”
if the yield on the 10-year U.S. Treasury note moves beyond 3%, warned Jeffrey Gundlach, while another bond king stated 2.6% was the key level to watch. According to Bill Gross, the number is much more important than Dow 20K, the price of oil or dollar strength, as it would signal a bear bond market. The 10-year yield last stood at 2.38%.
In Asia, Japan +0.3%. Hong Kong +0.8%. China -0.8%. India +0.9%.
In Europe, at midday, London +0.1%. Paris +0.1%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.1%. S&P flat. Nasdaq +0.1%. Crude +0.7% to $51.17. Gold +0.4% to $1189.70.
Ten-year Treasury Yield flat at 2.38%