European indices are down by quite a bit on the session with the DAX lower by 1.2%, CAC 40 down by 0.9%, and Eurostoxx also down by 1.2% on the session now. This comes as US futures are also pinned lower, with S&P 500 futures now down 27 points, or 0.7%, on the day. As mentioned earlier, the overall picture for equities is looking rather rough after the Fed’s hawkish communique yesterday.
Meanwhile, bonds are also being pressured with yields pushing higher so far today. 10-year Treasury yields are up over 8 bps to around 4.19% at the moment:
In turn, this is all keeping a firm bid in the dollar with GBP/USD down 1.2% to 1.1250 and AUD/USD down 1.0% to 0.6285 currently. USD/JPY is also up 0.3% to 148.35, holding near the highs for the day as we start to gear towards US trading.