PepsiCo (PEP.O) Q3 net revenue $25.27 bln vs $24.95 bln consensus; Q3 operating profit $4.26 bln vs $4.19 bln consensus.

NYMEX light sweet crude for November delivery fell $1.16 to $88.28/bbl at close, down 1.3%. ICE Brent for December delivery fell $0.38 to $100.20/bbl, down 0.38%.

State Street Global Advisors strategists said the yield curve’s attractiveness may be overstated, noting the curve does not currently appear particularly steep. They warned that if markets price higher term premia—or shift toward a 2000s‑style regime—government bond yields could face further upside. While the rise in sovereign yields is among the most important recent fixed-income developments, they do not see a clear case yet for extending duration despite more attractive yields.