If Treasuries pay 5%, why is anyone still buying gold?

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Last week, the 10-year U.S. Treasury yield touched 5.3%, its highest level since 2002.

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Trump is mulling joining Saudi against the Houthis; he also announced an immediate "energy ceasefire" between Russia & Ukraine - Newsquawk EU Market Open

  • US President Trump is considering joining Saudi strikes against Yemen's Houthis following deadly airport attacks, while Iran reiterated that Hormuz will only reopen once the US fulfils all seven conditions.
  • US President Trump announced a potential Russia-Ukraine energy ceasefire and a diesel deal with Russia, sparking criticism from US lawmakers.
  • APAC stocks traded mixed amid geopolitical tensions and holiday-thinned trade; US equity futures gained, while European futures point to a positive open.

Hartnett: "The Most Bullish Thing The Fed Can Do Now Is Hike"

Hartnett’s “most bullish event” (an October hike) and his “most bearish outcome” (a Democratic sweep) are on the calendar less than a week apart, and the market prices the first at just 17% and the second at 64%. That’s a lot of asymmetry

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