- European shares fell Wednesday
- Brent crude December futures at $101.54/barrel, up 1%
- WTI December futures at $89.31/barrel, up 1%
- German industrial output rose 2.0% month-on-month in August (vs +0.5% expected)
- European equities fell as a bond selloff extended and oil prices rose above $100. French OATs underperformed on budget uncertainty. German industrial output beat expectations. US futures were mixed ahead of the Fed's September meeting minutes. Treasury yields rose, with Danske warning of a potential 6% 10-year yield. Shell reported a record refining margin of $42/barrel. Porsche announced a 20% price increase for top-end models. The IMF chief warned of a tug-of-war between an energy shock and an AI boom. The French finance minister said he is willing to bypass parliament to pass spending cuts.
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