Daily summary: Wall Street mixed amid rising bond yields

• European equities end slightly lower
• US treasury yield hits highest level since February
• Gold below $1800/oz

European indices finished the session mostly lower despite positive start as renewed concerns over delays in vaccine deliveries and the consequent slowing vaccination rollout weighed on sentiment. Spain reported that it will be receiving just under half of the 400,000 vaccinedoses it was expecting this week, following a similar reduction announced across Europe. Meanwhile, Moderna is in talks with senior EU officials to supply 100 million additional jabs, while J&J has submitted an application to the European Medicines Agency requesting authorization for its single-dose COVID-19 vaccine. On the economic data front, the Eurozone economy contracted slightly less than previously estimated in the fourth quarter; while German investor morale surprised on the upside. DAX 30 fell 0.3%, CAC40 finished flat and FTSE 100 lost 0.1%.

US stocks erased early gains and are trading mixed amid soaring Treasury yields. 10-Y treasury yield surpassed 1.25% for the first time since March and jumped 8 basis points to hit a fresh one-year high of 1.28%. Some investors worried that this could lead to a potential jump in inflation that could pose a threat to certain sectors such as REIT'S, Utilities and Staples and hinder the economic recovery.  Meanwhile House Democrats will again focus on the $1.9 trillion stimulus plan as benefits from the last round of pandemic aid expire on March 14th. The House Budget Committee is expected to assemble all the legislatives pieces into one bill and prepare for a vote next week.

WTI crude rose more than 0.7% and is trading below $60.00 a barrel, while Brent fell slightly but managed to stay above $63.00 a barrel. Elsewhere gold futures fell 1.17% below $ 1,800.00 / oz, while silver is trading 1.2% lower near $ 27.20 / oz.