Equities hit the skids as higher yields is still the name of the game

<p>It's not a good look for equities now as US futures pare almost all of its earlier gains, despite even getting help from a gap higher at the open. European indices are also now all in the red, with the Eurostoxx down roughly 0.3% currently. It once again highlights the fact that the bond market is in charge of proceedings and traders are back to focusing on that after month-end and quarter-end last week.</p><p>10-year Treasury yields are up nearly 6 bps to 4.63% at the moment and threatening a further push higher amid the breakout since the middle of last month. That in turn is also <a href="https://www.forexlive.com/news/dollar-stays-poised-so-far-in-european-trading-20231002/" target="_blank" rel="follow">underpinning the US dollar</a>, as the greenback leads the charge across the board.</p>

This article was written by Justin Low at www.forexlive.com.