Ahead of the US new homes figures, equity markets are under pressure as concerns about the economic recovery continue to grow.
Wall Street has opened 90 points lower and the FTSE 100 is currently down 83.06 points at 5151.78. Meanwhile 10 year UK gilt yields continue to slide as investors seek the relatively safe haven of government bonds, down around 9 basis points to what could be a record closing low of 2.881. Another safe haven seems to be the yen, which moved to a 15 year high against the dollar despite growing talk of possible government intervention to curb the strength of the Japanese currency.
