- US stock futures declined and Treasuries edged higher ahead of the Fed's rate decision and the US government’s new borrowing plan.
- Contracts on the S&P 500 and the Nasdaq 100 fell by about 0.3%.
- European retailers outperformed the broader market, led by Next as it increased its profit guidance.
- The Fed is expected to keep rates on hold at a 22-year high for a second meeting, while leaving open the prospect of another hike as soon as December with economic growth staying strong. The recent surge in US Treasury yields has contributed to a tightening of financial circumstances, leading even hawkish FOMC members to indicate patience over further rate moves.
- Bond dealers are awaiting the Treasury to reveal another round of increases this week to its note and bond auctions, though a minority predict the department will slow the pace of growth to avoid jolting yields higher.
- As officials intervened in the bond market and issued verbal warnings to the yen, Japan's markets saw yet another day of volatility.
