S&P equity futures are well below Tuesday’s close. Asian markets were mostly lower overnight with Japan a laggard, down over 1% on concerns about capital gains tax hike. Mainland China remained closed for holiday. European markets are under pressure. Treasuries weaker across the curve with 10-year yields around the key 1.55% technical level. Dollar rallying on most of the major crosses though only a bit firmer vs yen. Gold off 0.7%. WTI crude down 0.4%.

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