Equities: Wall Street rallied forcefully, with the S&P 500 gaining 0.6% to close at 7,563, while the tech-heavy Nasdaq 100 outperformed, hitting a fresh all-time high with a gain of 0.8%. Overall, Technology (1.4%) and Healthcare (1.3%) led, while defensive sectors, Consumer Staples (-0.6%) and Utilities (-1%) underperformed. Conversely, European bourses fell, with the FTSE 100 shedding 0.7% and DAX dropping 0.3%.
Fixed Income: Sovereign bond yields edged lower following the extension of the Middle East truce. The benchmark U.S. 10-year Treasury yield fell by roughly 3 basis points to anchor at 4.45% as the sovereign yield curve bull-flattened.
FX: The U.S. Dollar Index weakened by 0.2%, pulling the USD/JPY pair away from the critical 160.00 intervention line. Risk-sensitive currencies, the New Zealand Dollar (NZD) and Australian Dollar (AUD), led the G10 currencies higher with gains of 0.6% and 0.3% against the USD, while the South African Rand (ZAR) outperformed across emerging markets.
Commodities: rude oil prices extended losses, with Brent and WTI crude hitting close to six-week lows of $92.41/bbl and $88.52. In contrast, precious metals rebounded, supported by a pull-back in longer-term US Treasury yields, with spot gold surging 0.9% to settle at $4,496/oz, still below the 20-day moving average at $4,585/oz.
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