Morning Markets

December E-Mini S&P 500 futures (ESZ23) are down -0.32%, and the Dec Nasdaq 100 E-Mini futures (NQZ23) are down -0.33%.

Stock index futures this morning are mildly lower, following losses in European stocks, on speculation global central banks will keep interest rates higher for longer to combat inflation.  European stocks are under pressure after the 10-year German bund yield jumped to a 12-year high today of 2.811%, and the 10-year T-note yield rose to a new 16-year high of 4.509%.  The stock market is also concerned about a possible U.S. government shutdown this Sunday when the fiscal year begins on Oct 1.

U.S. and European stocks are also under pressure on concerns that China’s property debt crisis is worsening after China Evergrande Group canceled a creditor meeting today and said it must revisit its restructuring plan.  The ongoing debt crisis in China threatens to derail the country’s growth prospects and drag down the global economy.

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