NEWS / Foreign Exchange

Indices are little changed while Treasury yields moderate

- US equity markets opened flat and have basically gone nowhere as volume is again light in the early going.  The energy complex is moving higher with the OSX up 1.3%.  XOM is helping the Dow by trading up close to 1%.  Crude futures have found some footing around $62 after yesterday??™s sharp decline.  Natural Gas futures are up more than 3.5% to $7.82.  Several of the online brokers are ticking higher after pre-market initiations at BMO.  ETFC +2.2% EXPS +2.9% AMTD +0.8%  Citigroup has added 1% as speculation continues to swirl regarding the upcoming restructuring plan.  Shares of AMAT are up close to 3% after being raised at BofA.  US yields are moderating from yesterday??™s post jobs data highs.  Treasury futures are ticking near session highs with the long bond up 10 ticks and the 10-year future higher by 7 ticks.  The 10-year yield has slipped to 4.71% while the 2-year has dipped below 4.70%.  The Dollar is lower across the board as traders continue to focus on protectionist worries that have resurfaced following yesterday??™s news that the US is filing 2 intellectual property/piracy cases against China with the WTO.  The Aussie Dollar is holding at or near 10-year highs against the Greenback to trade at 0.8255.  US Dollar Index is down 0.55% to 82.64.  The EUR/JPY moved out to new all time highs above 160 after the BofJ left rates unchanged at 0.5%.  June gold is up $6 to 682.80 and May copper consolidates near multi-month highs above $3.50.