The 30-year Treasury yield reached 5.058% at auction, the highest since 2007. Bitcoin and gold reacted divergently.
Take: Long-end rates breaking higher re-prices all risk assets. Gold and bitcoin's safe-haven credentials are being tested.
AI Circle Daily
https://aicircle.news/archive/2026-07-11?category=finance&lang=en
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Top 10 Market Stories
Goldman Sachs says the carry trade blamed for a 2024 market blowup has returned, bigger than ever.
Take: Risk appetite is back, but piled-up leverage makes the market vulnerable to a sudden vol spike.
Stablecoin issuer Circle received OCC approval to operate as a trust bank, sending shares up 5% in premarket.
Take: Crypto is going mainstream: a stablecoin issuer now has a bank charter. This could reshape payment rails.
Apple alleges OpenAI stole confidential information, saying misconduct is 'at every level.' The companies partnered in 2024 to integrate ChatGPT into iPhones.
Take: The AI partnership is dead. This lawsuit could reshape industry dynamics and hit investor sentiment in AI stocks.
Meta shares surged, notching their best weekly performance in years, as investors cheered low-cost AI pricing and infrastructure plans.
Take: Meta's AI pivot is winning again. A focus on cost efficiency could pressure competitors and lift tech sentiment.
South Korean memory-chip maker SK Hynix surged nearly 13% on its first trading day, with chairman saying 'demand is enormous.'
Take: AI chip demand is red hot. SK Hynix's debut confirms the semiconductor cycle is strong, but valuations are stretched.
Trump said he won't sign the bipartisan housing bill, which will become law automatically. The bill addresses rising home prices and institutional investors.
Take: Political noise but no policy disruption. The bill becoming law removes uncertainty, slightly positive for REITs.
Commerce Dept will favorably review exports involving MGX, which used a Trump-family-linked stablecoin for a $2B Binance investment. Warren calls it 'corrupt.'
Take: Conflict of interest allegations aside, this is bullish for UAE tech/AI ties. Watch for congressional scrutiny.
The Financial Select Sector Index trades at ~15.5x forward earnings, about 1.25 turns cheaper than in 2024, ahead of bank earnings.
Take: Banks look cheap. If earnings beat, a re-rating is possible. But rate uncertainty caps upside.
RBC Wealth Management cautions the Fed may take back all 2025 'insurance cuts' or not hike at all.
Take: Market is pricing too many cuts. If the Fed turns hawkish, short rates and USD rally, risk assets suffer.