The day saw Moody’s Investors Service leave Spain’s credit rating in investment-grade territory, which prompted treasury prices to fall and yields to rise new monthly highs. This gave some relief to stocks and commodities.
Global equities were all higher and U.S. stocks are poised to end practically unchanged with a slight upside bias; 24 of the DJIA’s 30 components are trading higher minutes ahead of the closing bell. Oil futures held around the $92/brl level even after reports of a bigger-than-expected rise in crude inventories. ‘Safe-haven’ currencies like the USD and JPY were broadly sold in favour of the NZD, AUD, and EUR.