March S&P 500 E-Mini futures (ESH26) are down -0.03%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.19% this morning, pointing to a muted open on Wall Street as rising Treasury yields curbed investors’ risk appetite.
The 10-year T-note yield rose three basis points to 4.24% after Bloomberg reported that Chinese regulators had told financial institutions to scale back their U.S. Treasury holdings, citing concerns about concentration risks and market volatility. Treasury yields also tracked a rise in Japanese government bond yields following a historic election victory by Prime Minister Sanae Takaichi.
