Surging Treasury yields and Fed minutes put markets on watch.

Treasury yields enter the week in focus after the 2-Year yield surged 54 bps and the 5-Year jumped 61 bps in September. Focus turns to Wednesday's FOMC minutes, which will detail the central bank's first rate hike since July 2023, as market probability of an October move has fallen to 24%. Meanwhile, the unofficial start of a new earnings season arrives with 12 companies holding market caps over $1 billion scheduled to report, including Pepsi and Delta Air Lines. Traders also monitor an economic calendar featuring global PMI data, U.S. Jobless Claims, and the Michigan Consumer Sentiment reading.