S&P equity futures remain well below Wednesday’s close. This comes amid an abbreviated session for US equities (closing at 1pm Eastern) following the Thanksgiving holiday. European markets are also sharply lower, but a bit off worst levels, following a weak Asian session. Treasuries notably stronger with a bit of flattening (Treasury markets also close early today, at 2pm Eastern). 30Y yield below 1.90% and 10Y moving toward 1.50%. Dollar is weaker on the yen and euro crosses. Gold up 1.5%. Bitcoin futures down 8.5%. WTI crude down 6.7%, on track for its worst daily performance since July on likely Covid-related global demand concerns.
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