Equities in a more cautious mood so far on the day

<p>At the turn of the month, it's not looking too optimistic for stocks ahead of the main events later today. US futures are still pointing lower after a brief recovery at the start of European trading. In turn, European indices are also now trading little changed as investors sense caution more than anything else.</p><p>The Fed is one to watch but I reckon the US Treasury refunding announcement will be the more important event for broader market sentiment today. If bonds come under further pressure with 10-year yields looking to 5%, that could yet pile on the hurt for stocks as we get things going in November.</p>

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