US equity futures are lower heading into the open, but we’ve seen a real rebound in the last few minutes, and now futures are only indicating the slightest of negative opens as we close out the last trading day of the month. Read today’s Bespoke Morning Lineup below for major macro and stock-specific news events, updated market internals, and detailed analysis and commentary:
Strong performance of US duration has continued with another day of bull flattening. Granted, the long end of the curve is down less than 2 bps on the day, but that’s still enough to put rates at a 10-week low. Notably, the 50-DMA looks like its starting to roll over and the 200-day is also slowing. There’s no trend shift yet for 10s, but given dour sentiment on the global economy and a less hawkish Fed, anything is possible.
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