Volatility is returning - ANZ
Analysts at ANZ noted that volatility is returning to markets, with tech stocks selling off and global bond yields rising.
"The USD was mixed and commodities fell. Treasuries declined on the back of a spike in UK yields (on yesterday’s Brexit headlines) coupled with stronger US data and an upbeat Fed.
The yield on the US 10-year is currently up 5bps to 2.38%. The S&P 500 is currently down 0.1%, with tech stocks (-3%), offset by financials (+1.8%) and telcos (+3%).
The VIX lifted to 10.8. In Europe, bourses outside the UK rose around 0.2%, while FTSE 100 fell 0.9%.
Commodities were biased lower, with oil slipping 2.0% and gold down 0.8%.
Bitcoin surged to an all-time high of $11,434 before retreating back below $11,000."