Sentiment is mixed this morning as investors have a chance to react after the U.S. equity and bond markets remained closed yesterday; this marked the first time since 1888 that weather interrupted U.S. equity trading for two consecutive days. European shares extended this week’s advance, gaining an initial lift from better than anticipated earnings from Lufthansa and Air France-KLM as well as German Retail Sales data that came in ahead of expectations. Since those reports, EU bourses have come down and are now trading nearly even on the day.

Treasuries declined in overnight trading, led down by the belly of the curve (5s and 7s), after trading resumed for the first time since Monday’s half-day session. On daily charts, 2s and 5s are consolidating near mid-Oct. lows, while the rest of the curve rebounding from Monday is breaking lower. The 10yr is still testing slightly below its 50-DMA at 1.71%; support rests at the Oct. 29 low of 1.7%. Sovereign spreads to German bunds in Europe are mostly slightly higher, while the 10yr bund itself has traded down -1.5bps to a YTM of 1.46%

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I have finally gotten everything sorted out with Bloomberg, as such, TheMorningSnapshot is returning. Thank you for your patience

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Sentiment is higher this morning, with the S&P 500 rising for a fourth day after jobless claims increased less than forecast by economists and policy makers in Europe continued to hold borrowing costs at record lows. “The jobless claims report was okay and Draghi is signaling he will do whatever it takes, so I’m not expecting him to take his foot off the accelerator,” Philip Orlando, the New York- based chief equity strategist at Federated Investors Inc. which oversees about $370 billion, said in a phone interview. “Every data point in the U.S. will be viewed through a market prism and a political prism now.”

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