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Equity futures edged higher as weak U.S. job openings boosted Fed cut expectations. S&P 500 and Nasdaq 100 futures rose modestly, while the Euro Stoxx 50 contract held flat. Treasuries and the dollar remained steady, though weakness in Chinese stocks capped Asian advances.

Asian equities fell to three-week lows as a global bond sell-off gathered pace. Japanese yields led the move higher, with 20-year bonds hitting levels last seen in 1999 and 30-years at record highs, while U.S. 30-year yields hovered near 5% after Tuesday’s spike.

Stocks traded cautiously with U.S. markets still closed, leaving Asian shares swinging between small gains and losses and European futures slightly lower. Gold surged past $3,500 to a fresh record as Fed cut bets intensified, while oil edged higher ahead of this week’s OPEC+ meeting.