Swiss bank and financial services giant
U.S. Treasury yields have risen to multi‑year highs after strong September PMI data and hawkish comments from Fed officials. The 10‑year has climbed above 5%, the 30‑year is at levels not seen since 2004, and traders are pricing higher odds of further Fed hikes this year, pushing mortgage and borrowing costs higher.
Oil prices have fallen after reports that US and Iran are pursuing mediated talks at the United Nations, while Saudi Arabia has been rerouting exports through Oman and the Strait of Hormuz to offset damage to its East–West pipeline. Traders are watching UN negotiations, Gulf shipping flows and US bond-market moves for signs of a wider market shift.
The Bank of Japan has raised rates to 1.25%, joining the US Federal Reserve and the ECB in tightening monetary policy as inflation pressures persist. Meanwhile, UK and other market signals show mixed responses, with the BoJ’s move sending Yen and global markets in flux.
Gold and silver have paused their retreat as hawkish central-bank signals and inflation fears weigh on the metals. Oil prices stay subdued, and markets eye key U.S. data on jobs and inflation to gauge the path of monetary policy. Yields on U.S. Treasuries have moved little on the final trading day of June. This update covers developments through July 1, 2026.
The world’s richest person has seen his fortune swing wildly after SpaceX’s IPO. SpaceX and Tesla shares have fallen amid a broader tech sell-off, eroding Musk’s trillionaire status. Despite volatility, he remains the wealthiest individual as markets reassess growth prospects in AI and tech.
Gold has fallen from its 2025 peak as higher real yields and a firmer dollar weigh on prices, with analysts noting divergent drivers behind safe-haven demand and new forecasts suggesting limited upside this year.
UBS reports 2025 global wealth rose 10.8%, fueled by stock markets and tech gains. The number of millionaires surged worldwide, led by the United States; median wealth fell in many markets, widening the rich-poor gap. Australia saw a rise in millionaires, though median wealth declined. The report highlights how assets and housing influence millionaire status and global inequality.
European regulators are preparing a package to deregulate and potentially cut capital backstops for banks, aiming to create pan-European lenders capable of competing with U.S. giants. The plan includes cutting Pillar 2 leverage add-ons, reducing capital buffers, easing reporting, and outlining a common deposit-insurance framework. The move follows similar U.S. and U.K. deregulation signals and is seen as a test of Europe’s capacity to finance large-scale strategic investments.
AMD has unveiled its Helios AI rack system at Advancing AI in San Francisco, promising higher throughput and lower cost per token. The system targets hyperscalers and data centers, with partnerships across Microsoft, Anthropic, OpenAI, and others. The move intensifies the race with Nvidia as AMD argues Helios delivers greater inference efficiency.
The U.S.-Israel conflict has heightened volatility in global markets, boosting LSEG’s trading and data businesses. UBS and other banks report strong Q2 results, while AI narratives continue to influence investor sentiment. Regulators review prime brokerage activity in London amid regional economic uncertainty.
A coordinated U.S.-Japan intervention in late July has only temporarily strengthened the yen. The currency has given back roughly half the gains from the operation and is trading near ¥159–¥160 to the dollar as of mid-August. Analysts say the yield gap between U.S. and Japanese debt and Japan's domestic policy mix are keeping downward pressure on the yen.
AstraZeneca has been linked to talks with Bristol Myers Squibb on a potential mega-merger. Reports say talks are ongoing and could form one of the industry’s largest deals, but regulatory hurdles and integration risks loom large.
AstraZeneca has not confirmed talks with Bristol Myers Squibb on a potential $400bn mega-merger, despite earlier reports. The markets rallied and fell as investors digest the possibility, with analysis suggesting mega-deals face antitrust and integration risks. AZ’s strategy centers on accelerating U.S. presence while leveraging its strong oncology franchise.
Global markets have steadied as US retail sales disappointed expectations but inflation trends remain subdued. European shares edge higher on energy-price easing, while oil prices pull back slightly amid a holiday lull. The day closes with investors weighing the timing of the next Federal Reserve move.
Bank of England Governor Andrew Bailey has warned that frontier AI models pose a rising cyber risk to the financial system, with potential to disrupt markets across borders. In a G20 letter, Bailey calls for global steps to ensure safe model release and to bolster market infrastructure against coordinated shocks.