Market Multiple Table: Explaining the Current Market Dynamic

What’s in Today’s Report:

• October Market Multiple Table: Explaining the Current Market Dynamic

Futures are modestly lower following a quiet night of news as both Treasury yields and oil rallied overnight.

French bond yields are 10 bps higher and erasing Tuesday’s declines as student protests sweep the nation. The rise in French yields are pulling global yields (including U.S. Treasury yields) higher.

Economically, German Industrial Production beat estimates, rising 2.0% vs. (E) 0.5% and underscoring solid economic activity in the EU.

Today focus will be on the FOMC Minutes (2:00 p.m. ET) and investors will be looking for insight into just how hawkish the committee was back in September (the less hawkish, the better as that will pressure yields and help support stocks).  We also get Consumer Credit (E: $15.0B) this afternoon, although that’s unlikely to move markets.

 

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