Welcome to Markets Desk, here's where things stand right now.
Global bond markets are driving the session's tone, with the ten-year Treasury yield spiking and weighing on equities across the board. The S&P five hundred is off nearly half a percent, the Nasdaq one hundred down close to one percent. Treasury Secretary Scott Bessent is downplaying the move, telling markets what happens over a month doesn't matter — though investors aren't entirely convinced.
Meanwhile, crude oil is pushing to a six-week high, with October WTI up more than two percent and RBOB gasoline following higher. The catalyst is renewed concern over prolonged supply disruptions out of the Middle East, where fresh hostilities are keeping a risk premium firmly embedded in energy markets for a second straight session.
On the softer side of commodities, coffee is getting hit hard today. December arabica is down nearly one and a half percent, touching a one-month low, while robusta has dropped close to three percent to its weakest level in nearly three months. The selling pressure traces back to expectations that Brazil's export pace is set to accelerate, signaling ample near-term supply coming to market.
That's the tape. Markets Desk, signing off the floor.
