Rising yields once again sent equity indexes lower. After a small gain during Asia time US equity indexes tumbled sharply lower during the European morning. The USD rose, most notably against EUR, GBP, CHF and JPY. AUD, NZD and CAD didn’t drop nearly as much.

Data flow was very light. We did get the September update for the German Ifo indexes, still at very subdued levels.

There were plenty of central banker comments, Villeroy, de Cos, and Kazaks from the European Central Bank while Bank of Japan Governor Ueda and Deputy Governor Uchida hit the news wires also. Ueda and Uchida made some remarks aimed at supporting the yen. They were joined by Japanese Prime Minister Kishida attempting the same. USD/JPY shrugged all of it off to trade higher.

US equity index futures were slammed lower:

es futures lower on Monday, 25 September 2023