3,270 public, source-attributed analyses archived for October 2026. Dates use UTC. Each article links to the originating publisher. News summaries and sentiment are automated, not independent reporting or predictions about future prices.
HSBC has launched RedCoin, its first Hong Kong dollar-denominated stablecoin, bringing bank-backed digital currency payments to retail users through PayMe. The stablecoin will support peer-to-peer transfers and payments at more than 100,000 merchants, while HSBC plans to expand into wholesale corporate and institutional use cases. The launch could accelerate stablecoin adoption in Hong Kong and strengthen the role of regulated banks in digital payments.
Spot gold fell below $4,000 per ounce during Friday trading, its first move below that level since July, and was down 0.6% intraday. The decline has erased gold's gains since August, according to independent precious-metals analyst Jesse Colombo.
The move was notable because gold fell while the dollar index and US Treasury yields were also declining, a divergence Colombo described as unusual. A weaker dollar and lower Treasury yields would typically support precious metals, but neither provided support in this session.
Colombo said possible explanations include liquidation linked to selling in AI-related and technology stocks, or suspected yen intervention that may have offset potential dollar strength. He stressed that yen intervention had not been confirmed.
The immediate technical focus is the $3,900-$4,000 per ounce support range, where gold found support during the summer before rebounding. A sustained break below that range would require further assessment of whether the decline reflects a liquidity-driven selloff or a deeper trend reversal.
Nickel prices fell on Friday as traders questioned whether proposed coordinated production cuts by Chinese producers in Indonesia would materialize.
Three-month LME nickel dropped 1.95% to $15,805 per ton, while Shanghai's most-traded November contract declined 2.22% to 119,460 yuan per ton.
Nickel could remain under pressure as elevated inventories, weak demand and uncertainty over the scale and timing of potential output cuts weigh on the market.
Lithium prices have plunged from their 2026 peaks, with Chinese lithium carbonate futures down 55% and Australian spodumene prices down 48%, signaling renewed bearish pressure across the sector.
Chinese lithium carbonate futures closed at RMB94,180 per tonne, while expectations for expanding mine supply and slower battery production growth have weakened sentiment despite forecasts for long-term demand growth.
Further supply increases could extend the lithium downturn and intensify pressure on Australian producers unless mine output falls short of forecasts.
Indian shares opened higher after three consecutive sessions of losses, with IT stocks leading gains despite a global selloff in AI-linked equities.
The Nifty 50 rose 0.16% to 22,726 and the Sensex gained 0.53% to 73,634.08, while India's IT index jumped 3%; Brent crude climbed to $113.5 a barrel amid escalating Middle East tensions.
Elevated oil prices and geopolitical risks could limit further gains in Indian equities, even as strength in IT stocks supports the broader market.
Chicago soybean futures rose 0.32% to $12.57 per bushel on strong US export sales, but remained on track for a 0.34% weekly loss as the harvest replenished supplies.
The USDA reported weekly US soybean export sales of 2.84 million metric tons, while expectations for a stronger Brazilian crop in 2026/27 added downside pressure.
Continued harvest progress and prospects for larger Brazilian supplies could limit soybean price gains despite robust export demand.
U.S. corn futures remain near a more than two-month low around $4.60 per bushel as weak export shipments and harvest pressure outweigh stronger forward sales.
USDA data showed 2026/27 export sales rose 36% week over week to 60.1 million bushels, while export inspections plunged nearly 49% to 672,475 metric tons and harvest progress reached 44%.
Record projected production of 16.03 billion bushels and ample expected ending stocks could continue to cap corn prices despite improving demand for future deliveries.
Bitcoin gained 0.7% to $81,758 in the Asia session but remains range-bound as AI-related fears continue to weigh on risk appetite.
Spot Bitcoin ETF flows signal improving institutional demand, while upcoming U.S. economic data, next week's Federal Reserve decision, and Alphabet and Amazon earnings could shape the next move.
Persistent ETF inflows could help absorb selling pressure and support a breakout, but stronger economic data and rising yields may weigh on BTC.
Gold fell below $4,000 an ounce to its lowest level in more than three months as a deepening stock-market selloff triggered liquidity-driven selling across asset classes.
Bullion dropped as much as 0.9% below $3,990 after falling nearly 3% Thursday, while Brent crude climbed above $113 a barrel amid escalating Middle East supply concerns.
Gold could face further downside pressure if forced selling and persistent inflation concerns continue to outweigh support from lower yields, with $3,900 identified as a critical level to watch.
Bitcoin recovered 0.7% to $81,758 during the Asia session but remains range-bound as broader tech weakness and AI-related fears pressure risk appetite.
Spot Bitcoin ETF flows signal improving institutional demand, helping cushion recent losses, while upcoming U.S. economic data, the Fed decision, and Alphabet and Amazon earnings could shape the next move.
Persistent ETF inflows could help absorb selling pressure, but resilient economic data and higher yields may pressure BTC and delay a breakout.
Indian equities could snap a three-session losing streak on Friday, with GIFT Nifty signaling a higher open after the Sensex and Nifty fell around 2% this week.
GIFT Nifty traded at 22,846 against Thursday's Nifty close of 22,687.65, while Brent crude surged to $113.50 per barrel and foreign investors sold Indian equities worth Rs 3,458.70 crore.
A recovery could gain traction if the Nifty clears 22,900 and sustains above 23,000, but elevated oil prices and continued foreign outflows may limit gains.
US natural gas prices fell to $2.76 per MMBtu, their lowest level in two months, as forecasts for mild weather weakened expectations for heating demand.
Above-average temperatures are expected across the Midwest and East through November 5, while gas storage rose by 77 bcf, below the five-year average of 87 bcf.
Natural gas prices could remain under pressure if mild weather curbs consumption, despite strong LNG export demand and lower domestic production.
Soybean futures rebounded toward $12.60 per bushel as strong export demand, led by China, ended an eight-session losing streak after prices hit a two-month low.
Bitcoin and gold pared early losses as the Japanese yen surrendered its gains, while Asian stocks and Nasdaq futures also recovered.
Bitcoin rebounded toward $82,000 after dipping below $81,000, while gold recovered to $4,020 per ounce and WTI crude remained near $100; U.S. spot Bitcoin ETFs recorded $381 million in outflows on Thursday.
Persistent oil prices and weak spot Bitcoin ETF demand could limit a sustained crypto recovery, while renewed inflation concerns may continue to pressure risk assets.
Malaysian palm oil futures edged up 0.13% to 4,798 ringgit per metric ton, tracking stronger soyoil prices and heading for a third consecutive weekly gain. The contract has gained 0.69% this week, while the Malaysian Palm Oil Council expects crude palm oil prices to remain above 4,600 ringgit in November amid stronger export demand, sustained biodiesel consumption and seasonal production declines. Continued strength in competing vegetable oils and biodiesel demand could support palm oil prices, although technical analysis points to a possible retest of support at 4,736 ringgit.
Crypto trader Machi sold two Mutant Apes NFTs for just 1 ETH each, realizing a combined loss of 11.28 ETH, or 85%, after holding them for three years. Lookonchain reported that the NFTs were originally purchased for 6.13 ETH and 7.5 ETH, with the proceeds intended to fund more trading and paper trading on Hyperliquid. The sale could reinforce bearish sentiment around NFT valuations while redirecting attention toward active trading opportunities.
a16z Crypto has rebranded as a16z Frontier, expanding its investment scope to frontier startups, while Circle shareholders have filed a lawsuit against Donald Trump and his family's crypto firm over alleged profits tied to UAE transactions. U.S. initial jobless claims came in at 194,000 for the week ended October 17, below the 200,000 forecast. The lawsuit could increase legal and reputational scrutiny of the crypto firm, while the rebrand may signal broader investment ambitions in emerging technologies.
A UAE-led operation called 'Confrontation Ghost' has identified more than $39 billion in funds and cryptocurrency linked to a major scam crackdown. The operation resulted in more than 960 arrests and raids on 29 scam centers, with participating countries now pursuing asset recovery. The crackdown could intensify scrutiny of illicit crypto flows and increase compliance pressure across digital-asset markets.
Verizon Communications shares fell 3.74% to $43.51 after hours following reports that SpaceX is in talks involving up to 80,000 U.S. cell sites. The reported negotiations raised concerns that SpaceX may seek to become a fourth wireless carrier in the U.S. market.
The development puts focus on competitive conditions for Verizon and other wireless operators, including T-Mobile and AT&T. No further details were provided on the status, terms or timing of any SpaceX cell-site arrangements.
Iron ore futures rose on Friday as falling Chinese port inventories put prices on track for their first weekly gain in seven weeks, despite persistent weakness in steel demand.
The January Dalian contract gained 0.67% to 675.5 yuan per ton, while Chinese port inventories fell 0.54% to 152.23 million tons and rebar demand dropped to a nearly four-year low.
Iron ore could struggle to sustain its rebound as weak property-sector demand, loss-making steel mills, and expectations of improving overseas supply continue to limit upside.
Chainlink has partnered with LG CNS to expand Korean won stablecoin infrastructure and accelerate tokenization across South Korea's digital asset market.
The collaboration will integrate Chainlink's cross-chain, data, and orchestration technology into LG CNS's institutional digital asset solutions, targeting a market with more than 11 million eligible stablecoin users.
The partnership could strengthen LINK's institutional adoption and real-world asset use cases, although South Korea's lack of a clear legal framework for commercial won stablecoin issuance remains a key hurdle.
Bitcoin faces a potential December macro headwind as Japan’s core inflation rises to 2.1%, strengthening the case for another Bank of Japan rate hike while the Federal Reserve is also expected to adjust policy.
Japan’s core CPI accelerated from 1.7% in August, while Bitcoin trades at $81,293, down 3.16% over 24 hours and 5.6% over the past month.
A hawkish BOJ outlook could pressure Bitcoin by triggering yen carry-trade unwinds, although similar-sized US rate increases could limit changes in the interest-rate differential and temper the impact.
Palm oil prices edge higher in Asian trading as firm market sentiment and expectations of improving export demand support prices, with January futures reaching 4,797 ringgit a ton. Elevated Malaysian inventories and robust October production are limiting gains, keeping prices near the 4,800-ringgit resistance level. Palm oil could remain range-bound in the near term, with support at 4,600 ringgit as supply pressures offset improving demand expectations.
Japan's Nikkei 225 closed the morning session down 1.7% at 61,825.26 on October 23. The TOPIX also fell 1.8%, ending the morning at 3,924.70.
The declines extended across Japan's two main equity benchmarks, indicating broad pressure on Japanese stocks rather than a move limited to one index. Market attention is on whether the weakness persists beyond the morning session and affects regional risk sentiment, including appetite for higher-beta assets.
Peter Schiff said a stock market crash before the midterms is “not outside the realm of possibility,” citing inflation, a weak economy and costly AI financing. The warning centers on U.S. equities and companies tied to AI spending, including the sector represented by QQQSTOCK, METASTOCK and CRWVSTOCK. No price, volume, flow or other trading data was provided in the source.
Oil prices steadied after a 4% surge to a five-month high as concerns over further supply disruptions following Houthi attacks on Saudi Arabia supported crude, while gold languished near a more-than-three-month low.
Brent slipped 0.2% to $112.96 a barrel, WTI fell 0.3% to $98.12, and gold traded around $4,025 an ounce after plunging almost 3% in the previous session.
Persistent energy supply risks could keep oil elevated, while continued cross-market stock selling may further pressure gold.
SoftBank Group shares fell 6.9% Thursday and have declined 50% since reaching a record high on June 2, according to Bloomberg. The repricing centers on whether the company’s large AI investments can remain sustainable as borrowing costs rise.
SoftBank’s market capitalization is about 24.7 trillion yen, or about $157 billion, and now trails Hitachi and Recruit Holdings. Four months earlier, SoftBank had briefly surpassed Toyota Motor to become Japan’s largest company by market value.
Investor focus is on funding costs, the value of SoftBank’s investment portfolio, and the cash returns generated by its AI-related bets.
US crude oil is approaching its October 20 high of $101.37 per barrel after breaking above the key $100.06 technical resistance level.
A confirmed bullish triangle points to a potential target of $104.11, while the daily rising channel suggests a higher target near $107.87.
Continued momentum above $100.06 could extend the rally toward these targets, but a break below support may expose oil to a pullback toward $97.94–$99.25.
Ethereum developers have postponed the Glamsterdam upgrade on the Hoodi testnet over compatibility concerns involving EIP-8037 and existing mainnet smart contracts.
The October 26 testnet upgrade has been delayed, the planned increase in Hoodi's gas limit to 200 million has been canceled, and new testnet and mainnet activation dates remain undetermined.
The delay could weigh on sentiment around Ethereum's upgrade timeline as developers investigate potential compatibility risks before proceeding.
OKX founder and CEO Star Xu says cryptocurrency exchanges should generate revenue from technology and services rather than using customer funds to pursue yield.
Xu recalled rejecting a yield proposal from Three Arrows Capital and declining prime brokers' requests for credit lines and delayed liquidation.
His emphasis on protecting customer assets could reinforce confidence in exchange risk management and strengthen expectations for more conservative fund-handling practices.
Indian shares are poised to rebound after three consecutive sessions of losses, but surging oil prices and Middle East tensions threaten to limit gains.
Brent crude climbed to $113.50 a barrel, while the Nifty 50 and Sensex have each lost around 2% this week; foreign and domestic institutional investors were net buyers of Indian equities on Thursday.
Sustained oil-price strength could pressure Indian equities further by worsening market sentiment and squeezing corporate profit margins, despite potential bargain buying.
Japanese rubber futures fell 1.35% to 445.9 yen per kilogram as a strengthening yen and a sharp Tokyo equity sell-off pressured prices, putting the contract on track for a second consecutive weekly loss.
The yen strengthened 0.3% to 156.28 per dollar, while Japan's Nikkei 225 dropped 1.71%; meanwhile, China's semi-steel and all-steel tyre production rates both increased from the previous week.
Continued yen strength and risk aversion could extend pressure on Japanese rubber futures, although recovering Chinese tyre production may help support demand.
Asian technology stocks extended their sell-off as investors pulled back from AI-related trades, while rising geopolitical tensions helped push oil prices higher.
South Korea's Kospi fell 2.55% and Japan's Nikkei dropped 2.0%, while WTI crude rose 0.4% to $99.86 and Brent gained 0.5% to $113.71 per barrel.
Further attacks on Saudi energy infrastructure could tighten oil supplies and intensify price volatility, while continued AI-sector weakness may pressure semiconductor stocks.
HSBC is rolling out its Hong Kong dollar-backed RedCoin stablecoin to more than 3.3 million PayMe users in Hong Kong, expanding regulated digital currency access through a major banking platform.
The initial launch supports peer-to-peer transfers and merchant payments, with HSBC planning mobile banking integration by year-end and tokenized money market fund subscriptions starting at HK$100.
Broader distribution and future tokenized investment products could accelerate stablecoin adoption and strengthen Hong Kong's digital asset ecosystem.
Asia's technology selloff is deepening as investors retreat from the AI trade, while escalating attacks on Saudi energy infrastructure are supporting elevated oil prices.
South Korea's Kospi fell 2.55% and Japan's Nikkei dropped 2.0%, while WTI crude gained 0.4% to $99.86 and Brent rose 0.5% to $113.71 a barrel.
Further AI-driven equity weakness and potential disruptions to Middle Eastern energy supplies could intensify market volatility and sustain upward pressure on crude oil.
Palm oil futures face further downside as technical analysis points to an incomplete correction from 4,852 ringgit per metric ton, with support at 4,736 ringgit in focus.
A dark cloud cover reversal pattern formed near resistance at 4,836 ringgit, while a break below 4,773 ringgit could confirm another downward wave toward 4,706–4,773 ringgit.
Palm oil futures could face additional selling pressure if the current correction extends and key support levels fail to hold.
Spot gold fell below $4,000 per ounce on October 23, marking its first break beneath that level since July. The metal was down 0.6% intraday.
The move places the $4,000-per-ounce threshold—a major psychological price level—under scrutiny. The event is relevant to gold-backed crypto assets including PAXG and XAUT, whose value is linked to physical gold prices.
Market participants will monitor whether spot gold remains below $4,000 or reclaims the level, according to the source context.
Gold fell toward $4,000 an ounce on Friday, nearing a three-month low as a technology and AI stock selloff triggered liquidations across precious metals.
Rising oil prices fueled inflation concerns and expectations of higher-for-longer interest rates, while traders reduced expectations for further Federal Reserve rate hikes amid doubts about AI investment sustainability.
Gold could face further downside pressure if equity-driven liquidations and elevated interest rate expectations persist, though reduced expectations for additional Fed hikes may offer some support.
Silver fell to around $54 an ounce on Friday, hitting its lowest level since November 2025 as a technology stock selloff triggered liquidations across precious metals.
Rising oil prices fueled inflation concerns and expectations of higher-for-longer interest rates, while Meta's planned increase in capital expenditure intensified concerns over AI-related borrowing.
Silver could remain under pressure if equity-driven liquidations and elevated rate expectations persist, though reduced expectations for further Fed rate hikes may provide some support.
Soybeans edged higher on strong US export demand, but advancing Midwest harvests kept futures on track for a weekly decline.
USDA soybean export sales reached 2.84 million metric tons, while the most-traded CBOT soybean contract rose 0.2% to $12.55-1/2 per bushel but remained down 0.46% for the week.
As harvesting nears completion, easing harvest pressure could support soybeans, though expectations for bumper crops may continue to limit gains.
AKE rose 40% against a broader risk-off backdrop in which Brent crude reached $114, its highest level since May, amid reports that the US and Israel were planning to strike Iran again after the election.
US equities sold off, with the Nasdaq down 2.6% in its worst session since June. AI stocks were heavily sold as higher oil prices revived inflation and rate concerns, while Nvidia's CEO said AI infrastructure demand remains large but financing is not keeping pace.
Crypto markets were also under pressure: Bitcoin fell to $81K, STRK lost 20%, STX and Solana fell 13%, and ZRO and LIT declined 10%. A major PHP vulnerability, affecting a language used by about 70% of websites globally, added cyber-security concerns after some sites temporarily shut down to apply patches.
Asian stocks weakened as mounting concerns over AI funding and a potential investment bubble triggered a sharp global bond rally and reduced expectations for further Federal Reserve rate hikes.
The Nasdaq fell more than 2%, the 10-year US Treasury yield dropped over 19 basis points below 5%, and Brent crude reached $114 a barrel amid escalating Middle East supply concerns.
Continued AI-related selling could intensify equity market volatility and further reshape rate expectations, while geopolitical tensions may sustain upward pressure on oil prices.
An on-chain analyst reported that one address was liquidated twice while taking long positions in SOXL over a four-hour period, with total reported losses of $586,000.
The address opened a $5.42M SOXL long at 11 p.m. and was liquidated in less than one minute, losing $316,000. It later opened a $4.97M long at 1 a.m.; that position was liquidated two hours later for a $270,000 loss.
Two minutes after the second liquidation, the address opened another SOXL long valued at $2.22M. The latest position had not been liquidated at the time of the report. The activity was described as coming from an isolated wallet.
Nickel producers in Indonesia's Morowali Industrial Park are expected to coordinate output cuts as Chinese operators weigh steep reductions amid falling prices and rising production costs.
Producers are considering halving mixed hydroxide precipitate output and cutting nickel pig iron production by 20%, although the scale and duration remain undecided; nickel prices have fallen nearly 25% from this year's peak.
If coordinated cuts materialize, they could tighten global nickel supply and support prices, but uncertainty over the reductions could limit the impact.
Brent crude could extend its gains toward $114.74–$116.49 per barrel, with technical analysis pointing to further upside.
A confirmed bullish flag suggests a potential target near $130, while support stands at $112.99 and a break below it could open a decline toward $110.91–$111.91.
If bullish patterns hold, Brent could advance toward higher targets, although a loss of support may weaken the outlook.
WTI crude rose more than 1.00% intraday and was quoted at $99.66 per barrel on October 23, placing it near the closely watched $100 level.
The move puts attention on whether crude can hold its gains around that threshold. The source identifies USO, OIL(USOON), and UKOIL as related instruments.
Vietnam's coal-fired electricity generation hit a record for the first nine months of 2026 as US-China tariff tensions redirected manufacturing and export production into the Southeast Asian nation.
Coal plants generated 132.9 TWh, up 15% year over year, while coal supplied nearly 52% of Vietnam's electricity mix amid weaker hydropower output and rising industrial demand.
Vietnam's expanding coal capacity could sustain demand for the fuel and increase power-sector emissions as export manufacturing continues to grow.
Indian equities face mounting pressure as the Nifty 50 has fallen for three consecutive sessions, dropping 2% this week, while midcaps and smallcaps have declined 3.5% and 4.5%, respectively.
Brent crude above $113 a barrel is a major obstacle to recovery, with the Nifty watching support at 22,554–22,649 as investors brace for a busy earnings day and the Jio Platforms IPO subscription deadline.
Elevated crude prices and continued weakness in broader markets could intensify selling pressure, although strong earnings or a rebound near key support levels may help stabilize sentiment.
US Midwest corn and soybean basis bids strengthened in several locations as firm river-terminal demand and export activity supported local grain markets.
At Davenport, Iowa, corn basis improved by 5 cents and soybean basis by 9 cents per bushel, while soybean export demand followed a series of US sales to China; December corn futures fell 2.75 cents to $4.605, while November soybean futures gained 7.75 cents to $12.53.
Strong export demand and reduced farmer selling could continue supporting local basis bids, although declining river levels and expected Mississippi River draft restrictions may complicate grain transportation.
Oil prices slipped 0.3% in Asian trading as futures appeared to undergo a technical correction following Thursday's gains.
UOB analysts attributed the earlier rally to supply disruption concerns after deadly Houthi attacks targeted a Saudi Aramco facility and an airport in eastern Saudi Arabia, with WTI at $99.16 and Brent at $112.79 per barrel.
Persistent supply risks could support crude prices, while technical selling may extend the near-term pullback.
OpenAI is targeting a financing round of up to $30 billion at a pre-money valuation of $1.25 trillion, according to a report cited by PANews.
The round is expected to be led by investors from the United Arab Emirates and would provide OpenAI with additional computing capacity. The agreement is planned to be signed before the end of next week.
The reported transaction highlights the role of capital and computing supply in the AI sector. The immediate points to monitor are completion of the signing and the availability of the additional compute capacity.
South Korea's KOSPI opened down more than 3%, led by weakness in major semiconductor names. Samsung Electronics fell nearly 4%, while SK Hynix declined more than 2%.
The simultaneous declines in the index's core technology heavyweights place focus on whether the two chipmakers stabilize and whether semiconductor valuations face broader repricing pressure. The reported move reflects selling pressure extending beyond a single company within Korea's semiconductor-led equity market.
Calle has launched BitNotes, a free, open-source Cashu wallet that lets users print Bitcoin-based ecash onto physical paper notes with offline cryptographic verification.
The multi-mint wallet supports Lightning payments, Ark for bringing on-chain Bitcoin into the wallet, and a Mobile Money bridge for Rwandan Francs, with availability currently limited to Android and macOS.
BitNotes could expand Bitcoin's use for cash-like and offline payments, but the lack of disclosed security audits and adoption figures may limit early user confidence.
Reuters' commodities technical outlook identifies key intraday targets and support/resistance levels across energy, precious metals, industrial metals, and agricultural markets.
Brent crude targets $113.66 and $114.74, while WTI targets $100.06 and $101.37; spot gold has resistance levels at $4,035, $4,045, and $4,055.
These technical levels could guide short-term trading decisions, but a breakout or breakdown would be needed to signal a clearer directional move.
U.S. stock futures stabilized after a sharp technology-led selloff exposed growing investor concerns over the sustainability of AI infrastructure spending.
The Nasdaq Composite plunged 2.6% and the S&P 500 fell 1.21% on Thursday, with AMD down 8.1%, SanDisk down 8.5%, and Nvidia down 4.4%.
Persistent doubts about AI investment returns, potential debt-funded expansion, and Middle East tensions could keep equity markets under pressure despite the stabilization in futures.
U.S. crude oil exports to Asia are heading toward a seven-year low as Middle East war disruptions send tanker costs soaring and squeeze trade flows.
Asian refiners have roughly halved November delivery orders to 24M-26M barrels, while U.S. Gulf-to-China tanker rates hit a record $79.6M earlier this month and remain near $60M.
Persistent shipping bottlenecks and renewed escalation risks could intensify oil supply concerns and keep crude prices under upward pressure.
The Nasdaq fell 2.6%, its largest decline since June, as U.S. equities reassessed the sustainability of the AI boom. The S&P 500 fell 1.2%, while major technology names declined: SpaceX dropped 9%, Meta fell nearly 7%, Nvidia lost 4.4%, and SK Hynix declined 8%.
Cross-asset moves reflected broader risk aversion. The 10-year U.S. Treasury yield fell more than 16 basis points to 4.963%, its lowest level since September 16, while the 2-year yield also dropped more than 16 basis points to 4.659%.
Oil remained elevated amid concern over Middle East escalation and potential supply disruptions. WTI crude touched $100 per barrel intraday before closing up 1.31% at $98.67, while Brent gained 2.53% to $109.09, a five-month high.
Additional risk signals included France's 5-year CDS spread moving above 100 basis points for the first time since October 2012, and France's 10-year government bond yield exceeding the U.S. Treasury yield for the first time in 13 years. Upcoming PMI releases, consumer sentiment data, French credit stress and Middle East supply risks remain key market catalysts.
U.S. Treasuries rallied as the 10-year Treasury yield fell 19.3 basis points to 4.952%, dropping below 5% for the first time in a month. Dow Jones Market Data said it was the largest one-day move in the 10-year yield since March 10, 2023.
The policy-sensitive two-year Treasury yield fell 18.8 basis points to 4.635%, its largest daily decline since August 1, 2025. The move came as an AI-linked technology selloff, Middle East escalation and worsening French fiscal and political risks increased demand for U.S. government bonds.
Options activity included a roughly $7 million position involving about 65,000 contracts targeting a 10-year yield near 4.6% within one month. A market gauge also showed investors paying a premium for long-dated Treasury calls over puts for the first time in seven months.
CME open-interest data released Wednesday showed a large increase in long-Treasury futures exposure, indicating new short positions had been established. The Treasury rally could put pressure on those positions if short covering develops. FactSet data showed SanDisk shares were still up about 430% in 2026 and Micron Technology shares up 200%, despite Thursday's equity pullback.
Britain's gas and electricity operators say the UK should have sufficient energy supplies to meet peak demand in winter 2026/27 despite Middle East turmoil and sharply higher energy prices.
UK front-month gas and power prices have risen about 180% and 120%, respectively, since the Iran war began, while forecast electricity reserve capacity stands at 5.9 gigawatts, or 9.5% of peak demand.
Although adequate supply capacity could limit fears of winter shortages, elevated prices and potential LNG disruptions may continue to pressure UK energy costs.
Brent crude futures have climbed above $113 a barrel as escalating Houthi attacks on Saudi energy infrastructure and renewed US-Iran conflict risks intensify supply concerns.
WTI crude trades near $99 a barrel after gaining over 2.4% in the previous session, while physical Dated Brent prices have fallen nearly $15 over the past two weeks.
Persistent geopolitical threats could keep futures volatile and elevated, although sustained Gulf supply recovery and falling freight rates may trigger a reversal in the coming weeks.