US Factories Expand as Costs ClimbUS manufacturing extended its expansion in September, with stronger demand and hiring offset by a sharp rise in input costs.
Behind Strong US Earnings: AI and OilUS corporate earnings continue to show solid growth, with artificial intelligence and the energy sector providing much of the momentum.
US Payrolls Miss Forecasts as Hiring SlowsUS job growth lost significant momentum in September, with nonfarm payrolls rising by just 29,000, far below expectations of around 95,000.
High Yields Pressure Equity ValuationsAlbert Edwards has warned that current equity market conditions are beginning to show similarities with previous market peaks, including 1999 and 2007. He argues that some of the narratives being used to support elevated valuations resemble those seen before earlier major market corrections.
US Yield Curve Narrows to 32 Basis PointsThe gap between US 10-year and 2-year Treasury yields has narrowed again, with the 2Y-10Y spread falling to around 32 basis points.
Markets Face Oil and Positioning Risks
SNB Keeps Rates at ZeroThe Swiss National Bank kept its policy rate unchanged at 0%, maintaining the lowest benchmark rate in the world as inflation remains comfortably within its price stability range.
Treasury Yields Surge as Bond Selling DeepensUS Treasury markets faced renewed selling pressure as investors adjusted to expectations of tighter Federal Reserve policy and growing government debt supply. Yields climbed across the curve, pushing borrowing costs higher and increasing volatility across financial markets.
