U.S. stock index futures collectively decline as rising U.S. Treasury yields pressure the corporate financing environment

智通财经2026/10/08 11:36

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(1) On Thursday, US stock index futures generally declined, with S&P 500 futures down 0.54%, while Nasdaq 100 and Dow Jones futures each dropped by nearly 0.92%. US Treasury yields surged again to multi-year highs, putting pressure on corporate credit conditions. (2) Reports emerged that the United States plans a new round of actions against Iran, which drove international energy prices sharply higher, threatening the recovery of Middle East maritime crude oil exports and further raising inflation risks. (3) Minutes from the Federal Reserve FOMC meeting revealed that most policymakers believe further rate hikes are necessary to contain inflation, and an expanding fiscal deficit contributed to the rise in US Treasury yields. (4) The AI hardware sector led the market down for the second consecutive trading day, as high borrowing costs suppressed capital expenditures in the AI field. Intel, Lam Research, Marvell, and Micron each fell by nearly 1.8%. (5) Broadcom completed a $57 billion debt issuance to support Anthropic’s business expansion, with its shares falling by 1.4% in premarket trading.

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On Thursday, US stock index futures generally fell, with S&P 500 futures down 0.54%, Nasdaq 100 and Dow Jones futures falling by nearly 0.92%. US Treasury yields surged again to multi-year highs, and corporate credit conditions came under pressure.
There are reports that the United States plans to launch a new round of strikes against Iran, which sharply drove up international energy prices, threatened the recovery of crude oil exports by sea from the Middle East, and further heightened inflation risks.
The Federal Reserve FOMC meeting minutes revealed that most policymakers believe further interest rate hikes are needed to curb inflation. In addition, the widening fiscal deficit drove US Treasury yields higher.
The AI hardware sector led the decline in the broader market for the second consecutive trading day, as high borrowing costs suppressed capital expenditures in the AI field. Intel, Lam Research, Marvell, and Micron all dropped by nearly 1.8%.
Broadcom completed a $57 billion debt issuance, with the funds to be used for the expansion of the Anthropic business. The company’s shares fell 1.4% in pre-market trading.

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Viatris has proposed an acquisition price of $36.50 per share, representing a 44.8% premium over Pacira’s last closing price. This acquisition will drive Viatris’ transition from the generic drug business to the field of patented pharmaceuticals. The company stated that the transaction is expected to be completed by the end of 2026 and will immediately enhance its financial metrics. On Thursday, Siddhi Mahatole from Reuters reported that pharmaceutical company Viatris (VTRS.O) announced a $1.65 billion cash acquisition of Pacira BioSciences (PCRX.O), aiming to add two non-opioid pain medications to its portfolio and expand beyond its core generic drugs into the high-value branded drug market. Viatris will acquire Pacira at $36.50 per share, a 44.8% premium over its last trading day closing price. In early trading, Pacira’s stock surged around 44%, while Viatris shares fell nearly 2%. Oppenheimer analyst Les Sulewski commented that the premium was “full price” and noted limited antitrust risk. He mentioned that Pacira has faced pressure from activist investors since November 2025, and with the stock close to the offer price, investors appear confident the deal will close with limited expectations for a higher bid. Through this transaction, Viatris will obtain Pacira’s “Exparel” (for the management of acute postsurgical pain) and “Zilretta” (for pain associated with osteoarthritis of the knee). In 2025, these two products are expected to achieve net sales of $575.1 million and $116.6 million respectively. Viatris stated it plans to promote these drugs in select international markets, seeking new growth drivers while deepening its presence in the patented drug segment. CEO Scott Smith said the acquisition “creates synergies with our fast-acting Meloxicam market opportunity and positions us as a leader in non-opioid pain therapeutics.” The US Food and Drug Administration is expected to decide by December 27 whether to approve Viatris’ rapid-acting Meloxicam for the treatment of moderate to severe acute pain. Viatris said it plans to mainly use excess cash to finance the acquisition, with the remainder raised through short-term borrowing. The company noted the deal will have a minimal impact on its overall leverage. Previously, Viatris raised its annual adjusted profit forecast in August thanks to strong branded drug sales and growth in the Chinese market. However, the company continues to face pressures from manufacturing setbacks in India, including a fire at its Nashik plant, as well as intense competition in the generics market. Both parties expect the deal to be completed by the end of 2026. Viatris said the acquisition will immediately improve its financial guidance metrics.

路透社•2026/10/08 14:46