Volatility in the US stock market hit a three-month high yesterday as the benchmark S&P 500 has shed 3% in the past two trading days. Equity futures have been drifting overnight and suggest a slight recovery this morning. Two hours before the opening bell, the Dow looks to open 20 points higher at 10,854 while S&P 500 futures are up 2.75 points to 1,166.75. The 2 year Treasury note is unchanged yielding 0.865% and the benchmark 10 year note is up 2.7bps yielding 3.573%. Light crude oil is off 0.20% to $79.81 per barrel, while gold is up 0.11% to $1,175.90. Overseas, Greek headlines and the threat of contagion continue to dominate headlines. Japan’s Nikkei index, opening markets after some local holidays, sunk 3.3% to a two-month low today. A flight to quality has helped the US...(read more)

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