Good morning contrarians! It is Monday, June 12.
State of Play
It’s a big week anchored by the Fed interest rate decision on Wednesday, but there isn’t really anything on the calendar today. As of 0635 things are looking anything but quiet:
Stock index futures are pointing to gains led by small caps. The Russell 2000 is up 0.9% with the Nasdaq up 0.5%. The S&P 500 is up 0.2%;
Commodities are dropping pretty precipitously. WTI crude oil is down 2.5% to trade around $68.50/barrel. Copper is down 0.5%;
Bonds are flat. The yield on the 2-year is 4.60% with the 10-year 3.74%, both unchanged.
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