France's debt strains and AI in focus
TLT•France's 10-year bond yield topped 5% for the first time since 2002 and continued rising as investors assessed the country's finances. Moody's is due to review France's Aa3 rating on October 23; the agency has a negative outlook.
1. French borrowing costs
France's benchmark 10-year yield topped 5% for the first time since 2002 and continued to creep higher as investors assessed the country's ability to restore its fragile finances. Investors are watching Moody's review of France's Aa3 sovereign rating, due October 23; the agency has a negative outlook, making a downgrade more likely than an upgrade.
2. Markets and earnings
The euro largely steadied after a month-long slide. Wall Street's tech giants' earnings lifted the Nasdaq and helped Wall Street close higher, while Asian markets remained cautious. Euro Stoxx 50 futures were down 0.7% at 6,175 in early European trading, and S&P 500 futures were down 0.63% at 7,751.3.
3. Thursday's reports
Barclays, Lockheed Martin, Blackstone and Dow were scheduled to report third-quarter earnings.
