08/10/2026 – Daily Reports
OIL SURGE, BOND YIELDS & FED HAWKISHNESS DRIVE MARKETS
- 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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Daily Market Highlights
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.
