Stocks Muted Before the Open as Treasury Rally Fades, U.S. Economic Data on Tap

September S&P 500 E-Mini futures (ESU26) are down -0.03%, and September Nasdaq 100 E-Mini futures (NQU26) are up +0.05% this morning, struggling for direction as a rebound in Treasuries ran out of steam. Treasuries resumed their decline on Thursday as the impact of the U.S. Treasury’s decision to increase buyback volumes for long-end securities faded. Long-end Treasury yields initially fell in Asian and early European trading before reversing course. The 10-year T-note yield rose two basis points to 4.67%, while the 30-year T-note yield advanced three basis points to 5.22%. The rebound in yields came amid lingering concerns about inflation…