International markets update:
Global markets are presenting a complex picture with U.S. equities reaching new highs despite surging Treasury yields, while European bond markets face renewed contagion concerns. Meanwhile, geopolitical actions by President Trump aim to alleviate domestic consumer price pressures.
- President Trump signed an executive order allowing wider use of ‘red diesel’ on U.S. public roads and highways, aiming to substantially cut fuel costs for American consumers.
- U.S. Treasury yields remain elevated, with the 10-year hitting a fresh 2002 high and the 30-year reaching a 24-year peak, yet major U.S. stock indices continue to post record levels.
- The Nasdaq achieved a new high, buoyed by significant gains from tech giants like Nvidia, Tesla, and SpaceX, which helped Elon Musk regain his trillionaire status after SpaceX shares surged.
- European bond investors are on edge due to contagion concerns after France’s central bank governor warned of the country being ‘strangled by interest rates,’ prompting calls for the ECB to pause quantitative tightening.
- Russian gold is flooding into Hong Kong at a record pace, underscoring how Western sanctions have redirected bullion trade from London towards China and other Asian markets.
Stock Market News summarised for the Wall Street Investors Club community.