08/10/2026 – Daily Reports
- Oil: Brent climbed back above $102 as renewed attacks on Gulf shipping increased concerns over supply disruptions through the Strait of Hormuz. Falling U.S. crude inventories added further support to prices.
- Equities: U.S. stocks pulled back from recent records as the 10-year Treasury yield climbed above 5.3%, while higher oil prices revived inflation concerns. The Dow fell 1.1%, with the S&P 500 and Nasdaq also under pressure.
- Gold & Silver: Gold recovered toward $4,140 as the dollar eased from its recent peak, while silver remained around $60. The rebound is being capped by elevated yields and expectations that the Fed could still raise rates before year-end.
- Copper, Platinum & Palladium: Copper remains supported by tight supply and low inventories, while platinum and palladium advanced as the broader precious-metals complex stabilized. Copper supply risks, particularly around Chilean production, remain an important near-term catalyst.
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GLOBAL MARKETS: BOND PRESSURE WEIGHS ON EQUITIES
- Asian markets declined as rising oil prices and elevated Treasury yields increased pressure on risk assets. Nikkei fell 0.9% while MSCI Asia-Pacific slipped 0.1%.
- Wall Street closed lower after recent records. The S&P 500 and Nasdaq fell 0.2%, while the Dow dropped 0.7%.
- US Treasury yields eased slightly after a strong 10-year bond auction, but the 10-year yield remains near 5.3% and long-term yields remain close to 24-year highs.
- Investors are increasingly focused on corporate debt issuance from major tech companies, as large AI-related funding needs add pressure to global bond markets.
OIL, GOLD & EUROPE REMAIN IN FOCUS
- Oil prices climbed back above $100 as supply concerns increased amid Houthi attacks and a storm threatening North American production.
- Gold recovered around 0.5% as the dollar eased from recent highs, although elevated interest rates continue to limit upside.
- The euro remains near a 17-month low as concerns over French and southern European fiscal conditions weigh on sentiment.
- Markets continue to monitor inflation risks, Treasury yields and expectations for further Fed rate moves as the bond selloff remains a key driver of global sentiment.
- Brent crude jumps 4.54% to $104.75/bbl, while WTI rises 4.53% to $92.28/bbl.
- Tanker attacks in the Strait of Hormuz hit their highest weekly level since the Iran conflict began, raising fears of further supply disruptions.
- The Strait of Hormuz remains a critical chokepoint, handling around 20% of global oil and fuel shipments before the war.
- US Gulf of Mexico producers shut in 25.08% of oil output and 16.37% of natural gas production as Hurricane Isaias threatens offshore operations.
- The IEA’s accelerated release of strategic oil stocks fails to ease market concerns, as the proposed 100-million-barrel release appears to draw on previously announced commitments.
Fed: October hike expectations fell to 21.6%, while December bets remain at 68.6%. Markets await the September Fed minutes today.
Equities: The S&P 500 and Nasdaq hit record highs on Tuesday, but rising oil prices and Treasury yields are weighing on sentiment today.
Oil: Brent is around $101.8, supported by renewed supply concerns following Houthi attacks on Saudi Arabia.
Gold: Gold is near $4,120, pressured by higher Treasury yields and a stronger dollar.
Euro: French fiscal and political concerns continue to weigh on the euro, which remains below $1.12.
