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Futures Flat Ahead Of Yellen As Geopolitical Risks Loom; Fear Barometer Spikes

Monday, April 10, 2017 7:49

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zerohedge.com / by Tyler Durden / Apr 10, 2017

S&P futures point to a slightly lower open, while Asian and European stocks are likewise modestly in the red. Trading volumes are muted for most markets on Monday with investors spooked by rising geopolitical tensions in the Middle East and the Korean peninsula. It is also a holiday-shortened week in much of the West. As Bloomberg puts it, there is a “sense of unease” across markets, with global stocks mixed as investors weighed looming security risks and French bonds retreating ahead of the election following the surprising surge of far-leftist Melenchon in the polls.

The dollar inched towards three-week highs after Dudley’s Friday comments and overnight follow up from a hawkish Bullard who pushed for further tightening, drawing support from U.S. rate hike expectations while global stocks, reaching the point where some see them as expensive, were stuck in neutral ahead of U.S. earnings season this week.

Top aides to U.S. President Donald Trump differed on Sunday on where U.S. policy on Syria was headed after last week’s attack on a Syrian air base, while U.S. Secretary of State Rex Tillerson warned the strikes were a warning to other nations, including North Korea. “The risks of a conflict have certainly grown and that should keep the dollar supported against most Asian currencies with hawkish comments from the U.S. central bank also helping,” said Gao Qi, an foreign exchange strategist at Scotiabank in Singapore.

Source: http://silveristhenew.com/2017/04/10/futures-flat-ahead-of-yellen-as-geopolitical-risks-loom-fear-barometer-spikes/

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