U.S. Stock Futures Are Higher With The Start of June

U.S. stock futures are higher:  With the first day June, futures are in positive territory.  Treasury yields are inching up with the 10y yields at 2.87% compared to closing level of 2.85%, yields across the curve are up slightly.  A Fed induced recession or hard landing is a primary concern among investors as Chairman Powell has signaled a 50 bps increase at the June and July meetings.  This morning, global energy prices are holding steady post yesterday’s EU announcement to ban 90% of Russian crude by the end of the year.  The national average price of a gallon of gas hit $4.62 as of Monday, according to AAA and is $1.58 higher than a year earlier.   European/Asian markets are mixed.  Credit spreads on investment grade and high yield bonds are tighter by roughly 3 bps over the last week and funding markets are choppy but still active.