The Intelligence Layer Beyond Your Own Book

The US Treasury announced a significant increase in the size of its liquidity-support buyback operations for longer-dated nominal coupon securities, at least doubling the scale of its bond buybacks. The announcement, viewed by markets as a form of quantitative easing, pushed the dollar lower and triggered a sharp rally across bonds and gold.

A global selloff in semiconductor stocks intensified as investors retreated amid elevated bond yields and geopolitical uncertainty. Samsung Electronics and SK Hynix slumped more than 7% in Seoul, sending the KOSPI down 6.09% overnight. This followed a 0.69% fall in the S&P 500 yesterday, while Nasdaq 100 futures are down 0.47% and S&P 500 futures are 0.20% lower this morning.

Global equities are under pressure this morning as a sharp sell-off in government bonds pushes borrowing costs higher and investors reassess inflation risks. Nasdaq 100 futures are down 0.77%, while S&P 500 futures are 0.39% lower at 7,740.0 this morning.