3568 was the low in the S&P 500 and the index has since bounced to 3605, which is nearly 40 points. The index now rests down just 7 points on the day.
In the futures market, the low was just below the premarket lows.
The turn in equities came alongside a bid in bonds. US 10-year yields are now up just 1.5 bps on the day to 3.90% from a high of 4.00%.
There’s no news driving the change, though people have noted the comments from Brainard yesterday to indicate that at least the Fed is mindful of overdoing it.
