📊 Equities
It was a sea of red across global equity markets into Friday’s close as investors reacted to mounting inflation concerns and another sharp move higher in global bond yields. All three major US indices finished heavily lower, with the S&P 500 falling 1.2%, the Dow shedding 1.1%, and the Nasdaq sinking 1.5% from its record high. Rising Treasury yields once again pressured risk sentiment, with the benchmark US 10-year yield closing comfortably above 4.5% — reinforcing expectations that the Federal Reserve may need to remain restrictive for longer.
🛢️ Oil
Prices rallied strongly as hopes for a ceasefire in the Middle East continued to fade. Brent Crude surged +3.35% to $109.26 and WTI gained +4.20% to $105.42.
🥇 Gold
Gold came under heavy pressure, breaking through recent support levels as higher yields and a stronger US dollar weighed on the precious metal. Gold fell -2.40% to $4,540.08.
💵 FX & Bonds
The US dollar strengthened broadly against the majors, with USD/JPY continuing to climb despite lingering intervention concerns from Japanese authorities. The 30-year Treasury yield pushed toward 5.15%, its highest weekly close since 2007.
💡 Outlook
Asian equities are expected to open under pressure today following Friday’s sharp selloff on Wall Street. It’s a relatively quiet start to the week on the economic calendar, leaving markets likely to remain headline-driven.