■ Bond markets see selloff in anticipation of Fed’s rate announcements, pulling yields upwards

■ The FBI’s reopening of Clinton’s probe increases uncertainty, weighing on markets

■ Amazon (AMZN) releases weaker than expected Q3 results, contributing to S&P’s 0.7% weekly loss

■ Weak earnings reports in Europe lead Stoxx 600 to 1% weekly loss

■ Oil drops back below 50, as odds of a production cut dissolve

Anticipation for monetary tightening continues to push markets to the red. Next week’s Fed announcement and the one in December have, in particular, weighted heavily on U.S. treasury bonds. The U.S 10 year bond’s yield, which moves inversely to its price has increased from 1.74% at the start of the week, to 1.84% on Friday’s close. Increasing yields were also fueled by the U.S. GDP being reported to have added 2.9% Quarter over Quarter Annualized, exceeding expectations for a 2.6% gain. The move of sovereigns wasn’t confined to the U.S., however, with the German 10 year going from 0% at the start of the week, to ending at 0.17%, the highest level since May.

Stocks’ retreat was further fueled by a weak Amazon Q3 report, on Thursday, with and EPS of USD 0.52, vs. expectations of 0.78.  U.S. presidential elections, unsurprisingly, also contributed to the heat, amid news that the FBI is reopening Clinton’s E-mail probe. The S&P 500 recorded losses in all daily sessions of the week, but that of Monday, ending Friday’s trading at 2126.41 points, with a 0.7% weekly loss.

In Europe, too, pressure from rising bond yields was coupled with weak earnings reports, with UBS (UBS), BNP Paribas and brewing company AB InBev reporting lackluster results. The Stoxx Europe 600 index lost 1% during the week. Losses were somewhat larger at the Athens Stock Exchange, at 1.2% weekly and the Portuguese PSI 20, at -1.1%.

Market imbalances refuse to settle

The GBP faced further headwinds this week, leading to a -0.4% weekly loss. Brexit anticipations continued to play as the most significant factor to the GBP’s weakness. The latest blow came on Friday, with the U.K. government wining a suit in Northern Ireland, ruling that lawmakers need not to hold a vote in order to start the two-year countdown to Brexit.

Oil began seeing strong selling pressure on Tuesday, amid reports that Russia is opposing a production cut. Friday saw the number of U.S. rig count advance by another 4, to 557. The day also saw headline that Iraq and Iran are refusing to freeze outputs, and that OPEC underestimates their production. Interfax further quoted Russian energy minister, who said that an output freeze could be offset by a quick recovery in U.S. shale oil production. The entrenching no-cut, has led to oil losing another 2.1% for the day, completing a 4.3% weekly drop, to USD 48.62.