Major sovereign bond yields are climbing.

European equities are rebounding, led by Italy, while the Euro is becalmed.

With Wall Street at a record high and equity volatility touching a 23 year low, short term concerns are notably absent across markets.

A rebound of commodities is also helping with minors leading the FTSE 100 in early trading.

Oil nudging higher with Brent looking to push back towards the $50/a barrel mark as traders anticipate OPEC and Russia will extend production cuts.

A well received corporate earning season

and easing off political tensions after Emmanuel Macron's victory in the French presidential election are driving market sentiment.

Still, the current mood is notably lacking in enthusiasm,

reflecting the already strong performance of assets-like equities this year.

Plenty of good use has been discounted, and it's really not surprising that equities face a tougher time gathering additional momentum.

The big hope for markets remains a prospect of fiscal stimulus for the US, while the Eurozone awaits for forms in France.

Markets however, may be waiting for much of the summer and beyond.