Mixed earnings and a mixed market - ANZ

Analysts at ANZ noted that markets consolidated overnight given a lack of data and mixed earnings reports. 

Key Quotes:

"Equities were mixed, treasuries sold off, the USD strengthened, and commodities dipped. US equities were mixed, with the S&P flat despite lifting consumer discretionary stocks, while the Dow Jones index fell (-0.5% at the time of writing) after IBM fell sharply (-8.5%) after earnings disappointed. 

Most bourses in Europe rose, led by the periphery, but the UK’s FTSE 100 dropped another 0.5%. The US treasury curve bear-steepened with the front end up 1.5bps and the long end up 4bps; the US 10-year bond yield is trading back above 2.20%. Similar moves were observed in Europe. Oil fell (near-term WTI -2%), extending declines from yesterday after the EPI reported a smaller drawdown in reserves. Gold prices fell to $1280/oz."