U.S. Stock Futures Rally as Bond Yields Fall on Fed’s Inflation Resolve

September S&P 500 E-Mini futures (ESU26) are up +0.90%, and September Nasdaq 100 E-Mini futures (NQU26) are up +1.09% this morning as Fed Chairman Kevin Warsh’s resolve to combat inflation reassured markets, driving bond yields lower and boosting sentiment.

Treasuries rose across the curve on Thursday, with the benchmark 10-year yield falling 3.5 basis points to 4.99%. A drop in oil prices provided further support to Treasuries, reinforcing hopes that the worst inflation fears won’t materialize.