Web Trader MT5
US stock futures were slightly lower on Thursday after surging Treasury yields triggered a sell-off in equities and strengthened expectations for further Fed rate hikes. The 10-year Treasury yield climbed to 5.13%, its highest since July 2007, while markets priced a 67% probability of another Fed hike in October, up from around 50% a week earlier.
Yesterday, brent jumped nearly 4% to $103.10, reinforcing the risk that persistent inflation could keep Treasury yields and interest rates higher for longer. However, in early trading today, oil prices fell with Brent down 0.8% to $102.25 and WTI down 0.7% to $91.40, as traders assessed stronger Asian crude imports and ongoing Middle East developments. However, geopolitical risks remain elevated as tensions between the US and Iran continue. Lower oil prices could provide some relief for equities by easing inflation pressures, but renewed escalation, further monetary tightening or developments in US-China trade and strategic supply chains could quickly reverse that support.
Gold remains under pressure below $4,300, trading near a one-week low as markets await the Trump–Xi meeting and potential developments on rare earths, technology restrictions and the US-China trade truce. However, any geopolitical headlines could trigger short-term volatility in the metal.
In the crypto market, Bitcoin fell 2% to around $84,425 after failing to break the $87,000 resistance level, as rising US Treasury yields and renewed Middle East tensions weighed on risk appetite.
Higher yields make traditional fixed-income assets more attractive relative to Bitcoin, encouraging a short-term risk-off move. However, the longer-term outlook can be different, as investors may increasingly turn to Bitcoin and gold as hedges against currency debasement and rising debt concerns.
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