U.S. Stock Futures Are Higher After Higher Treasury Rates Cooled Yesterday's Equity Rally

United Asset Strategies |

U.S. stock futures are higher.  Expecting a higher opening today after higher treasury rates cooled yesterdays’ equity rally.  Monday’s economic releases, such as durable goods & pending home sales index, were above consensus and drove treasury yields up by 8 bps with the 10y closing at 3.21%  and at 3.23% this morning.  The S&P Case Shiller report on the rate of home price growth will be released at 10.  With the close of the 2Q and 1st half, some investors are looking for a potential less hawkish Fed during the 2nd half.  China’s National Health Commission announced a shortened total quarantine period from 21 days to 10 days and lessened its testing requirements for quarantined individuals: resulting in a stronger close for Asian securities.  European markets are trading mainly up in midday trading.