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Global signals improve as US markets rebound from basic lows

Global indices are looking a bit better with US markets, the S&P500, Dow Jones and NASDAQ rebounding from base lows of around 1-1.5%. At one point, it looked like it would be a repeat of the day before, but it wasn’t. There were small positive closes in the day overnight.

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However, this does not bring much comfort, yields continue to climb, nominal yields are 3 basis points (bp) higher on the 5y. The 10-year yield is up 6 basis points to 2.66% and the surprise for the market has been all FedSpeak, Fed officials who used to be dovish now seem hawkish and hawkish Fed officials are ringing even more belligerent.

Watch the accompanying video from CNBC-TV18’s Prashant Nair for more details.

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