Rising U.S. Treasury yields suppress U.S. stock index futures as the market awaits the Federal Reserve's minutes

On Wednesday during the European trading session, U.S. stock index futures showed a lackluster performance, and U.S. Treasury yields rebounded, with the 10-year yield rising above 5.3% and the 30-year yield hovering around 5.69%. Concerns about inflation, an expanding fiscal deficit, and an increase in AI bond issuance have driven yields to high levels. The escalation of geopolitical conflicts in the Middle East has pushed up oil prices, intensifying inflationary pressures. CME FedWatch indicates that traders expect the probability of an interest rate hike in October to be only about 22%.