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STOCKS – European stocks erased their advance as Renault SA (RNO) dragged carmakers lower, offsetting reports of better-than-expected profit at companies including BP Plc and Ferrovial SA. U.S. index futures were little changed, while Asian shares climbed.
 
BONDS –  U.S. five-year yields reached the highest level since 2010 relative to other Treasury benchmarks as investors prepared to bid for $35 billion of the securities at an auction today.
 
COMMODITIES – Soybeans climbed for a second day, advancing to the highest level in almost two weeks, on speculation that dry weather in the U.S. will reduce yields in the world’s biggest producer.
 
CURRENCIES – The US dollar touched the strongest in six weeks against major peers amid optimism the U.S. recovery is gathering pace. New Zealand’s currency fell on prospects of lower earnings for the nation’s dairy farmers.
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ECONOMIC DATA -US S&P/CS Composite-20 HPI y/y at 9:00, CB Consumer Confidence at 10:00, NZD Building Consents m/m at 18:45 ET.
 
 
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