Global bond markets remain under pressure with rising yields, as U.S. Treasury yields continue to climb. The 10-year U.S. Treasury yield has surpassed 4.2%, reaching a three-month high. Meanwhile, the Japanese 40-year government bond yield hit its highest level in 16 years.
In the stock market, Tokyo Metro's IPO marked Japan's largest in six years, with shares skyrocketing over 40% on the first day of trading. This debut highlights investor confidence despite mixed performances across Asia-Pacific markets.
On the U.S. market front, pre-market trends show a slight decline in the major indices. Starbucks (SBUX) shares have dropped nearly 5% following a disappointing third-quarter report and a decision to delay fourth-quarter guidance. Additionally, McDonald's (MCD) shares fell almost 6% due to severe E. coli outbreaks affecting several of its locations in the U.S.
Conversely, Spirit Airlines (SAVE, Financial) saw a significant increase of nearly 20%. Reports from the Wall Street Journal indicate that Spirit Airlines has resumed merger discussions with Frontier, with negotiations still in the early stages.
In Europe, the stock indices opened with minor declines. The Euro Stoxx 50 index fell 0.41%, the German DAX index decreased by 0.3%, the British FTSE 100 dipped 0.17%, and the French CAC 40 was down by 0.44%.
Commodities saw some movement as spot gold prices surged past the $2,750 mark, setting a new all-time high. UBS analysts suggest a bullish outlook for gold, with a target of $2,900. In contrast, international oil prices experienced a slight decline.
Overall, the financial landscape remains volatile with significant movements across various sectors and markets.
