The global bond rout has abated, but investor anxieties over rising debt and the war in the Middle East still hang over markets.
The 30-year U.S. Treasury yield has stabilized after hitting its highest level since 2007 this week. Borrowing costs in Europe and Japan also eased. Analysts point to a number of drivers for the government bond selloff, which pushed yields around the world to multiyear highs, from rising debt issuance by tech companies to concerns over fiscal deficits.
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Dimming hopes for a deal to end the U.S. war with Iran have also unsettled markets this week, sending global oil prices back above $90 a barrel.
While U.S. stock futures are muted this morning, Asian indexes slid amid a selloff in chip stocks like SK Hynix and Samsung. Chinese humanoid robot maker Unitree was a bright spot, surging more than fivefold in its trading debut in Shanghai.
Back in the U.S., retailer earnings are in focus with Target and Lowe's due to report this morning. We'll also get the minutes from the Fed's July meeting, which exposed a deepening divide among rate-setters about how to tackle inflation.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
