Investors Focus on Positives

Despite another night of widespread protests and some riotous behavior, investors this morning remain tuned into the expected positive effects of continuing reopening efforts as pandemic lockdown restrictions are eased around the country. Domestic equity markets are poised to open higher this morning while Treasury prices are slipping just a little bit. The Ten-Year’s yield has edged up by a basis point or two to around 0.67%. The short end remains pretty much unaffected with the yield on the Two-Year holding steady at around a lofty 15 basis points. Crude oil is enjoying the prospect of a one-month extension of production cuts already put in place by OPEC+ producers. WTI is up about 50 cents to right at $36/barrel. Gold, too, has rallied a bit to around $1,742/ounce. It’s a light news day for economic pronouncements except for a report on Total Vehicle Sales from Wards due out sometime later today. May’s sales activities are expected to show an annualized increase of just over 11M units; up from April’s virus-ridden tally of just 8.5M.