U.S. Stock Futures Are Lower With A Diminishing Chance Of A Breakthrough In Peace Talks
U.S. stock futures are lower. Higher global energy prices and a diminishing chance of a breakthrough in peace talks are sending equity futures down this morning. Yesterday there were subtle signs that both sides were close to an agreement but faded and this market skepticism added to the volatility. Over the last two days, European natural gas prices jumped 10% with Germany’s announcement that there might be a possible reduction of Russian gas supplies. In early morning trading, longer term yields are higher and a slightly pull back in shorter term yields and on Tuesday, the 2y treasury yield briefly traded above the 10y yield. Home loan volumes decreased by -6.8% as the 30y fixed mortgage rate increased 0.3% to 4.8% for the week ending March 25th and was the largest one week increased since Feb 2011, according to the Mortgage Bankers Association. European markets are lower and Asian market closed higher.