US: S&P 500 that will trigger circuit breakers at the open - BBH

Research Team at BBH, suggests that in the US, S&P 500 that will trigger circuit breakers at the open.  

Key Quotes

“The US 10-year bond yield is off 21 bp to 1.53%.  The sharp decline in US yields is not a reflection of new fears about the US growth or inflation outlook.  It is a function of safe haven demand. 

The bulk of the decline in the US 10-year yield can be partly explained by the nearly identical decline in the two-year yield (now 58 bp).   This reflects not only safe haven demand but also the ideas that the Fed will not hike rates this year.  And more, the Fed funds have been averaging 37-38 bp and the implied yield on the December Fed funds futures contract is currently 35 bp.”