The rebound in US Treasury yields suppresses US stock futures as the market awaits the Federal Reserve meeting minutes.

智通财经2026/10/07 09:16

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During Wednesday's European trading session, US stock index futures were subdued as a rebound in US Treasury yields weighed on investor sentiment, with markets awaiting the release of the latest Federal Open Market Committee meeting minutes by the Federal Reserve. The US bond market continued to face pressure, with the 10-year Treasury yield rising above 5.30%, and the 30-year yield hovering around 5.69%. Persistent inflation concerns, a widening fiscal deficit, and a significant increase in artificial intelligence-related bond issuance are key factors keeping yields elevated. Escalating geopolitical tensions in the Middle East are driving up crude oil prices, further intensifying inflationary pressures and sustaining expectations of interest rate hikes. However, recent weakness in US labor market data has lowered expectations for an aggressive tightening policy by the Federal Reserve. According to the CME FedWatch tool, traders currently estimate only about a 22% probability of a rate hike at the Fed's October meeting.

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During Wednesday's European trading session, US stock index futures were sluggish as rising US Treasury yields weighed on investor sentiment, with the market awaiting the release of the latest Federal Open Market Committee meeting minutes by the Federal Reserve. The US Treasury market remained under pressure, with the 10-year Treasury yield climbing above 5.30% and the 30-year yield hovering around 5.69%. Ongoing inflation concerns, growing fiscal deficits, and a substantial increase in AI-related bond issuance are the main factors keeping yields at elevated levels. Escalating geopolitical conflict in the Middle East has driven up crude oil prices, further intensifying inflationary pressures and keeping expectations of interest rate hikes alive in the market. However, recent US employment market data has weakened, reducing expectations of an aggressive tightening policy by the Federal Reserve. According to the CME FedWatch tool, traders currently estimate the probability of a rate hike by the Federal Reserve at the October meeting at just about 22%.

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(1) According to economists cited by CNN, the unprecedented wave of protests erupting in France has exposed the country’s increasingly severe fiscal problems and could very likely trigger a large-scale crisis across Europe. (2) Previously, European Central Bank President Christine Lagarde stated that France’s public debt has reached nearly 120% of GDP, and the government has no plan to control the debt, which poses a serious challenge for France. (3) Ángel Talavera, Chief European Economist at Oxford Economics, told CNN that the likelihood of this crisis spreading to other countries and even the entire Eurozone is very high and could lead to a severe crisis across the region.

智通财经•2026/10/07 12:11

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