Steady buying pulls US equities back higher

The intraday swings in equities in the past two weeks have been tough to manage and that’s been the case again today. Stocks opened higher then were beaten down, in part due to rising Treasury yields.

However the tide has turned since the 5-year sale of Treasuries came in close enough (0.4 bps tail). The bids have been non-stop since then, pulling the index 30 points from the lows.

I wouldn’t expect any break in the volatility from here with Meta, IBM, Ford and Chipotle among the names reporting after the bell.

This article was written by Adam Button at www.forexlive.com.