Market developments
Equities: Global stock markets experienced mixed performance this week, with the S&P 500 moving slightly higher early in the week, driven by gains in Amazon and Alphabet, but later facing pressure from a tech selloff. European markets, including the STOXX Europe 600, saw slight declines, reflecting cautious investor sentiment amid U.S.-China trade talks and trade policy uncertainties.
Fixed Income: The U.S. Treasury conducted a $39 billion 10-year note auction this week, which showed strong demand and indicated solid investor interest. The Treasury sold $22 billion in 30-year bonds, also meeting robust demand. This successful auction eased concerns about U.S. debt funding and supported expectations for lower yields, boosting bond prices.
Commodities: Oil prices surged over 12% this week, driven by heightened Middle East tensions and U.S. embassy evacuation concerns in Iraq. Gold prices rose over 3.5%, as investors sought safe-haven assets amid geopolitical risks.