Happening now
Oil jumped to its highest since May on Iran war fears, gold fell $24 to $3999, the S&P 500 slipped 0.5%, and the 10-year Treasury yield rose to 5.00%, against mixed US and Canadian data.
Oil jumped to its highest since May on Iran war fears, gold fell $24 to $3999, the S&P 500 slipped 0.5%, and the 10-year Treasury yield rose to 5.00%, against mixed US and Canadian data.
- Moody's affirmed France's sovereign rating at Aa3 with a negative outlook, warning that slowing growth, a widening deficit, rising financing costs and social protests could hinder fiscal consolidation, as the France-Germany 10-year yield spread widened to 178bps Thursday from 85bps in early September.The negative outlook signals growing concern about France's ability to control its deficit, which is projected at 5.4% of GDP for 2026. A wider sovereign risk premium on French debt tends to weigh on the euro and can keep pressure on euro-area bond spreads as investors demand more compensation for French risk.
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- Trump is expected to remove some tariffs on Canada, according to a WSJ report cited by the wire.A reduction in US tariffs would ease trade friction on Canadian exporters. Lower tariff pressure tends to support CAD, which could weigh on USD/CAD if the move is confirmed.
- USDCHF fell 0.46% to 0.8206 as Treasury yields plunged 15-19 basis points, with the 10-year yield at 4.96% versus 5.36% last week, amid a Nasdaq selloff tied to AI-spending worries.US Treasury yields dropped sharply alongside a tech-led equity selloff, signaling a broad risk-off shift away from US assets. Lower yields reduce the dollar's yield advantage, which tends to support the Swiss franc and is consistent with USDCHF's decline.
US yields jump on oil-driven war fearsFrance fiscal risk widens