FAST FIVE: Futures Extend Record Highs As Inflation Fears Fade

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Other meme stocks like Workhorse (WKHS) rises 4.9% and BlackBerry (BB) climbs 2.2%.

Technicians are certainly talking up this thesis; SocGen's techs, for instance, note that the 10yr yields breaking through May's lows suggests the persistence of downward momentum, which could bring 1.41%, 1.35%, 1.32% into focus (action to be capped by 1.55% and 1.63%).

Overall, European sectors are mostly firmer but it's difficult to discern a particular theme/bias.

In terms of individual movers, Deutsche Bank (-3.7%) sits at the foot of the Stoxx 600, pressured by the yield environment coupled with source reports suggested the ECB has asked the bank several times in recent months to name a successor to chairman Achleitner as the end of his term nears.

Note – the oil market was briefly in disarray on Thursday as reports that the US lifted sanctions on Iranian oil officials stoked expectations for a return to the nuclear deal and of Iranian oil supply, however, a US official clarified that the Treasury action was routine and had nothing to do with Iran's nuclear deal talks.

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