Hawkish Fed Repricing Punishes Non-Yielders: Gold and Bitcoin Slide as Dollar Surges to 2026 High
Last week's hawkish Fed repricing, not a flight from risk, drove yields and the Dollar higher and hit non-yielding gold and Bitcoin, while equities rose and volatility fell. Markets have now priced far more tightening than any Fed official has endorsed, so the 5% test in the two-year yield and whether the Fed validates that path are the next questions.
USD/JPY Tests 160 as Modest US Intervention Commitment Raises Questions, PPI Cools Dollar
Tokyo is trying to preserve the deterrent effect of intervention through warnings and its cooperation with the US Treasury, but a clearer view of Washington’s limited financial contribution could encourage markets to test how far Japan will act independently. With US yields and Fed tightening expectations still favoring the Dollar, a durable Yen recovery may be harder to sustain.
US 2-Year Yield Nears 5% as Fed Repricing Puts Silver’s 48.60 Support at Risk
A sharp hawkish repricing of Fed expectations has pushed the US two-year yield toward 5% resistance and dragged precious metals lower, but yields and the Dollar cannot explain silver's whole slide. Whether yields break through 5% or stall there, together with silver's 48.60 support, will shape the next phase.
Nvidia’s Huang Resigns as AI Rebound Faces Leadership Shock, Oil and Yields Rise
Global market sentiment came under pressure on Thursday as Nvidia CEO Jensen Huang’s resignation delivered a major shock to the AI industry, while rising oil prices and government bond yields added to concerns over the broader investment environment. Nasdaq-100 futures fell more than 1% ahead of the US session, threatening to interrupt the technology-led rebound earlier this week.
