Fiscal concerns continue to ferment, the US dollar weakens across the board, Japan's long-term debt rebounds, spot gold is on the rise to US$3,330

Source: Wall Street News
On Friday, the 23rd, European stocks opened slightly higher, and Asian stock markets continued to perform strongly, mainly benefiting from the easing of trade tensions and the rebound in risk appetite.

However, the drastic fluctuations in the yield on the US 30-year Treasury bonds after breaking the 5% mark have exposed investors' deep concerns about the US "Big Beautiful Act". The dollar index fell 1.2% this week, the biggest drop in six weeks. Japan's long-term bonds rebounded, and the 30-year Japanese bond yield fell by 10 basis points.

In the commodity market, gold has risen above $3,330 per ounce due to rising risk aversion demand, which is expected to record its biggest weekly gain in more than a month. Oil is facing its first weekly decline in three weeks, and OPEC+ is considering a sharp increase in production, which may increase supply to a market that is expected to face an oversupply.

European stocks opened slightly higher, Germany's DAX index rose 0.06%, France's CAC40 index rose 0.17%, and the UK's FTSE 100 index rose 0.22%.
The Nikkei 225 index closed up 0.5% to 37,160.47 points. The Dongsheng Index closed up 0.7% to 2,735.52 points. South Korea's Seoul Composite Index closed with little fluctuation.

The S&P 500 futures have not changed much.
The dollar spot index fell 0.3%, and the decline expanded to 1.2% this week, its biggest decline in six weeks.
The US dollar fell by more than 0.50% against the yen during the day and is now at 143.29.
The euro rose 0.3% against the dollar to $1.1316. The pound rose 0.2% to its highest level in more than three years.
The Indian rupee rose 0.5% against the dollar to 85.5788.
Japan's 30-year Treasury bond yield fell by 10 basis points to 3.065%.
The 30-year U.S. Treasury yield remained at 5.04%, after experiencing drastic fluctuations in the previous two days.
Spot gold once stood at $3,330 per ounce, up 1.08% during the day.
West Texas Intermediate crude fell 0.6%, down for the fourth straight day, setting the longest consecutive decline since April 8.
Bitcoin fell 0.3% to $110,812.22, ending a five-day gain of 7.4%.
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Stocks opened slightly higher, with the German DAX index rising 0.06%, the French CAC40 index rising 0.17%, and the UK FTSE 100 index rising 0.22%.

The US dollar fell by more than 0.50% against the yen during the day and is now at 143.29.

U.S. Treasury yields reflect fiscal concerns

The bond market this week reflected investors' concerns about the fiscal health of the U.S. economy. Thomas Taw, head of investment strategy at Asia Pacific at BlackRock Asset Management, said:

"The bond market is talking, but the stock market isn't really listening at the moment. All these upcoming measures, whether it's tax bills, tariffs, etc., are inflationary measures."

The 30-year U.S. Treasury yield remained at 5.04%, after experiencing drastic fluctuations in the previous two days.

The dollar weakens across the board, and spot gold continues to rise

The dollar fell against all G10 currencies on Friday, Felix Ryan, an analyst at Sydney Banking Group, said:

"The current market environment still tends to short the dollar's rise as people continue to worry about the impact of tariffs, geopolitical risks and fiscal concerns on the U.S. economic outlook."

Spot gold once stood at $3,330 per ounce, up 1.08% during the day.

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