U.S. e-mini stock futures , though, indicated a 0.3% rebound at the reopen following the S&P 500'sU.S. 10-year Treasury yields hovered near the six-week low at 3.671% hit overnight in Tokyo trading, while the two-year yield continued to consolidate near its lowest level since Oct. 28 at around 4.38%.
The dollar index - which measures the currency against six major counterparts - added 0.07% to 106.34, stabilizing following its slide to as low as 105.30 on Tuesday following the release of producer price inflation numbers. Money markets currently give 93% odds that the Fed will slow to a half-point rate hike on Dec. 14, with just 7% probability of another 75 basis point increase. However, traders still see the terminal rate as close to 5% by next summer from the currency policy rate of 3.75-4%.Crude oil continued to decline in Asia after settling more than a dollar lower overnight after Russian oil shipments via the Druzhba pipeline to Hungary restarted and as rising COVID-19 cases in China weighed on sentiment.
Brent crude futures dropped by 62 cents, or 0.7%, to $92.24 a barrel, while U.S. West Texas Intermediate crude futures fell 65 cents, or 0.8%, to $84.94 a barrel.
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