Good morning contrarians! It is Monday, May 22.
State of Play
As of 0630 all is pretty quiet:
Stock index futures are effectively unchanged, with none moving more than 0.2% from the break-even point;
Commodities are down, with copper off 1% and natural gas down 1.6%. WTI crude oil is unchanged at $71.60/barrel;
Bonds are seeing a few bids, with the yield on the 2-year down 5 basis points to 4.24% and the 10-year down 3bps to 3.68% (yields move inversely to prices).
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