The US 10-year yield held near 4.7% as expanded Treasury buybacks raised concerns that relief may be temporary.

Global financial markets are navigating a complex environment defined by sticky inflation, central bank policy uncertainty, and rising trade tensions. In Europe and the UK, accelerating headline inflation, driven by higher household energy costs and amplified by the escalation in the Middle East and disruptions in the Strait of Hormuz, is complicating monetary policy outlooks.

Trade tensions between the United States and Canada are increasing as negotiations struggle to produce an agreement. Washington continues to threaten higher tariffs, while Ottawa is showing little willingness to make major concessions in strategically important sectors.