S&P Futures Steady as Bonds Stabilize After Selloff, FOMC Minutes on Tap

September S&P 500 E-Mini futures (ESU26) are down -0.02% this morning, steadying after yesterday’s drop as the global bond rout eased, while investors await the release of the Federal Reserve’s July meeting minutes. Bonds stabilized across regions on Wednesday. The 10-year T-note yield slipped one basis point to 4.70%. However, the factors behind this week’s bond selloff, which pushed yields to multi-year highs, have not disappeared. The price of WTI crude rose about +1% on Wednesday amid the absence of a clear path toward resolving the Middle East conflict. Regional tensions escalated as the United Arab Emirates said it was…