- US equity futures suggested a rebound from Wednesday's decline even as a selloff accelerated on global bond markets.
- While Europe's equity benchmark declined for a third day, S&P 500 contracts rose 0.2%. Despite the fact that many investors had assumed the Federal Reserve has stopped rising interest rates, this is no longer certain since minutes from the most recent meeting appear to indicate officials are pondering tighter policies.
- This week, the movements in the bond markets have been quick and abrupt. On Thursday, the 10-year Treasury yield increased by four basis points to 4.29%, which is close to its highest level since 2007. Equivalent maturity gilts in the UK reached 4.71%, the highest level since the 2008 financial crisis. Following weak investor demand at a debt auction, the yield on Japan's 20-year bonds increased.
- The US to slap tariffs on food-can metal from China, Germany and Canada - WSJ.
- China told state banks to escalate yuan intervention this week.
- UK OIS curve points to roughly an 80% chance the BoE bank rate will rise to 6% or more by February 2024 - sources.
