A brand new month, but same old story in the equities space
It is risk-on to start December trading and equities are looking poised for a solid day of gains after a bit of a pause amid month-end trading yesterday.
S&P 500 futures are up by over 1% now with European indices also posting a little over 1% gains (UK stocks are 2% higher) so far on the session.
US 10-year Treasury yields are also 2 bps higher at 0.859% and that is keeping the risk mood in a better spot, with the dollar and yen the weakest performers on the day.
Back to the S&P 500, dip buyers are certainly poised to try and breach the all-time high from 9 November of 3,645.99. That may be the kick that is needed to break free from the 3,200 to 3,600 range seen since September trading.