US Markets Start Week on Down Note Amid Bond Market Pressure
US markets started the week on a down note as investors await key economic updates and policy signals from top officials. The S&P 500 futures fell 0.2%, while Dow Jones Industrial Average futures dropped 0.1%. Nasdaq futures slipped 0.7%.
The Federal Reserve's preferred measure of inflation, the personal consumption expenditures (PCE) index for July, will be released on Wednesday. This comes as the US economy continues to struggle with stubbornly high consumer inflation rates above 3%.
The bond market remains under pressure due to rising yields and Treasury borrowing costs. The 10-year Treasury yield rose back to 4.73%, its highest point in over a year, after Treasury Secretary Scott Bessent's announcement of doubling buybacks of longer-term bonds provided only temporary relief.