U.S. and European government bond yields, the main driver of global borrowing costs, hit their highest since June on Monday as questions mounted about how the world's big central banks could react to a sudden bout of inflation.
China’s stock markets continued their decline overnight with the Shanghai SE Composite falling another 4.64% and down of 32% since June 12. Markets have begun seizing up as sellers overwhelm the system.
U.S. stock index futures were slightly lower on Monday after the markets leapt on Friday on strong jobs data that showed the U.S. economy was picking up steam, but not by enough to raise concerns about an earlier-than-expected interest-rate rise.
After the Fed's non-statement, its back to the highs for equities and oil. Friday's jobs number is expected to boost both markets. The equity market yesterday could not figure out if it wanted to go higher or lower as the S&P widened its range upon each test.