U.S. stock index futures are edging higher in premarket trading early Wednesday after Treasuries recovered from a sharp sell-off that took yields to fresh...
U.S. stock index futures were slightly higher in premarket trading early Wednesday after Treasuries recovered from a sharp sell-off that took yields to fresh 16-year highs in the previous session, while ADP reported that private-sector employment increased less than expected last month.
What’s driving markets Equity-index futures were slightly higher Wednesday morning after payroll processor ADP said U.S. private-sector employment rose by a tepid 89,000 in September. Economists polled by the Wall Street Journal had forecast a gain of 150,000. The trend is being felt globally, with benchmark German bund yields BX:TMBMKDE-10Y and U.K. gilts BX:TMBMKGB-10Y hitting multi-year highs, too, while the DAX equity index DX:DAX in Frankfurt trades at its lowest since March.
“I struggle to see how the recent yield moves don’t increase the risk of an accident somewhere in the financial system given the relatively abrupt end over recent quarters of a near decade and a half where the authorities did everything they could to control yields,” Reid added.
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