The S&P 500 futures are down 9 points and are trading 0.2% below fair value.
The Nasdaq 100 futures are down 36 points and are trading 0.2% below fair value.
The Dow Jones Industrial Average futures are down 58 points and are trading 0.2% below fair value.
Equity futures indicate a lower start to the week following last week’s retreat.
The looming threat of a government shutdown has contributed to the negative bias, along with rising market rates.
2-yr note yield is up two basis points to 5.12%
10-yr note yield is up six basis points to 4.50%.
Another headwind for stocks is the news that China’s troubled developer Evergrande announced that it cannot issue new debt and is scrapping a planned $35 billion debt restructuring.