Equity Futures Slide As Treasury Yields Advance

Equity futures slid on Friday, as treasury yields surged following a wave of stimulus in the United States and the continued vaccine rollouts across markets.

• S&P 500 Futures fell 0.5% as of 6:57 a.m. New York time; the Stoxx Europe 600 declined 0.5%; the MSCI Emerging Market Index dropped 0.5%; while the MSCI Asia Pacific Index was little changed.
• Most 10-year Treasury yields advanced — U.S. by seven basis points to 1.61%; Germany’s by two basis to -0.31%; Britain’s by six basis points to 0.79%; and Japan’s by two basis points to 0.123%.
• West Texas Intermediate crude fell 0.4% to $65.77 a barrel; Brent fell 0.3% to $69.41 a barrel; and Gold by decreased 1.1% to $1,703.05 an ounce.
• U.S President Joe Biden signed into law the $1.9-trillion stimulus package. This includes $1,400 checks to be given to most Americans.