U.S. stocks slip, oil surges on Middle East violence
© Reuters. FILE PHOTO: A reflection of passersby walking is seen on an electronic board showing Japan's Nikkei average outside a brokerage, in Tokyo, Japan, March 20, 2023. REUTERS/Androniki Christodoulou/File PhotoSYDNEY - U.S. stock futures slipped in Asia on Monday as the military conflict in the Middle East boosted oil and Treasuries, while the sizzling September U.S. jobs report raised the rate stakes for inflation figures later in the week.
The cautious mood was a balm for sovereign bonds after recent heavy selling and 10-year Treasury futures rose a sizable 18 ticks. Yields were indicated around 4.71% compared to 4.81% on Friday. Minutes of the last Federal Reserve meeting are due this week and should help gauge how serious members were about keeping rates up, or even hiking again.
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