U.S. Stock Futures Are Higher Following Yesterday's High Volatility

U.S. stock futures are higher.  Equity futures are trading up following yesterday’s highly volatile day after President Biden’s announcement to ban Russian energy imports.  International markets are higher and treasury yields edged up.  The 10y treasury yields are trading at 1.90% versus 1.84% opening level on Tuesday.  The 3y auction was poorly received with the short end of the yield curving increasing faster relative to the longer maturities as investors wait for tomorrow’s CPI report.  Energy and gold prices are lower from their respective highs on Tuesday with traders recalibrating  portfolios to take advantage of opportunities.  European markets are trading higher and the European Central Bank is meeting Thursday amidst higher inflation and potentially slowing European growth.  Asian markets are down following inflation data released reflected China’s producer inflation rising in February and slightly above consensus.  High yield spreads widened out suggesting that global risk has increased and concerns that higher energy prices might adversely impact economic growth.