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The Breakfast Briefing: Wall Street Futures Point To A Muted Open As Investors Digest Fed Minutes
FYI: Benchmark U.S. Treasury yields climbed back toward seven-year highs after minutes showing the Federal Reserve may favor more rate hikes next year. Stocks were mixed and the dollar held gains.
S&P 500 futures pointed to a softer open after a flat session on Wednesday, while stocks in Europe bucked earlier losses in Asia to climb on the back of positive earnings. The 10-year Treasury yield climbed as high as 3.21 percent after minutes showed Fed officials appeared to favor an eventual move in rates above the level they see as neutral for the economy. The yuan weakened against the greenback as the U.S. Treasury refrained from naming China a currency manipulator, while at the same time escalating scrutiny of the country’s exchange-rate policy. Regards, Ted
