U.S. equity-index futures rose and Treasuries declined after jobless claims dropped more than forecast. European stocks fell as Germany’s inflation rate turned negative for the first time in more than five years.
Take a monster winter storm for the northeast of the United States, travel restrictions and an extended commute for those who dare, and combine it with an equally gloomy forecast from industrial and machinery bellwether Caterpillar and you have a less than perfect set-up for the trading day.
Open interest declined by 84,000 in 10-year Treasuries as a result of yesterday's activity. Traders removed positions before they headed out the doors in New York in front of what might have been a record breaking storm.