Last Friday, following the Federal Reserve’s rate hike, the market continued to assess the path of monetary tightening, with long-term yields experiencing intense volatility around key thresholds. The U.S. Dollar Index rose before retreating and entered a narrow trading range, ultimately closing down 0.02% at 100.21.The benchmark 10-year U.S. Treasury yield hit an intraday high of 5.014% but ultimately closed down 1 basis point at 4.997%; the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, edged back slightly to 4.752%.
Thanks to the continuous decline in crude oil prices, which eased concerns about secondary inflation and alleviated the pressure of holding non-interest-bearing assets, spot gold briefly approached the $4,400 mark during the session and ultimately closed up 0.84% at $4,378.23 per ounce;Spot silver showed greater resilience, ultimately closing up 1.62% at $66.27 per ounce.
During the United Nations General Assembly, the U.S. and Iran signaled a willingness to engage in negotiations, and with repairs to Saudi Arabia’s oil pipelines progressing steadily, the geopolitical risk premium previously factored into prices continued to be unwound, putting downward pressure on international oil prices.WTI crude oil ultimately closed down 1.31% at $95.26 per barrel; Brent crude oil closed down 0.86% at $99.72 per barrel.
In the U.S. stock market, the Dow Jones Industrial Average closed down 0.19%, the S&P 500 rose 0.16%, and the Nasdaq rose 0.39%. SanDisk (SNDK.O) rose 10.99%,SK Hynix (SKHY.O) rose 2.46%, Micron Technology (MU.O) rose 3.92%, and NVIDIA (NVDA.O) rose 1.34%; Qualcomm (QCOM.O) fell 5.82%,Dell (DELL.N) fell 3.3%, and SpaceX (SPCX.O) fell 1.36%. The Nasdaq China Golden Dragon Index rose 0.78%; Alibaba (BABA.N) rose 4.34%, and Baidu (BIDU.O) fell 0.11%.