Stock Futures Flat as Treasury Yields Ease from Multiyear Highs
U.S. stock futures remained near the flatline on Wednesday morning after Treasury yields retreated slightly following a global bond selloff that had rattled markets earlier in the week. The 30-year U.S. Treasury yield fell to 5.282% from its highest level since 2007, while the 10-year yield stood at 4.694%. Global government borrowing costs surged across major economies including Japan and Germany before stabilizing. The bond selloff was attributed in part to heavy debt issuance by technology firms and concerns over budget shortfalls. Meanwhile, oil prices remained elevated above $91 a barrel due to ongoing geopolitical tensions between the U.S. and Iran, which contributed to inflation worries and higher yields globally. Tech stocks were under pressure with Oracle slipping after disappointing OpenAI results.
Topics: global bond selloff oil prices stock futures Treasury yields