nejra: james harrison, heelys our european oil coverage.or giving us the context. we will keep an eye on the oil majors, particularly with what has been going on with the oil price, on the cusp of a bear market. let us look at how futures are set up. we saw weakness in the market yesterday in the u.s., particularly the nasdaq, dropping 2% at one point on the potential of antitrust concerns faangs.he and we are in the red in a lot of these futures markets. even though we have seen civilization in the bond market, equity markets are not quite taking heart yet. manus: yes, james bullard really did take a flamethrower to the one market yesterday, sparking a real huge move in futures and the two-year rate. it has been a vicious repricing, he aspects the market to be slightly overbought, and if anything, what you might see is a restatement of what has happened to the twos and the tens. perhaps there is more to come if the fed goes into rate-cutting futures the fed funds are aggressively repricing we inflationon european data today. down from one