Futures Slide As Treasury Yields Surge, Erasing Bessent Intervention, Driven By Oil Spike<!-- -->

• The Euro (EUR/USD) has extended its rebound toward 1.1600, driven by elevated European yields and stabilizing US Treasury yields. • Simultaneously, the British Pound (GBP/USD) surged to its highest level since mid-May, trading above 1.3600.

• ECB President Christine Lagarde warned that Europe's post-war growth model is eroding due to geopolitical risks, the loss of cheap energy, and fragmenting global trade. • Lagarde emphasized the urgent need to deepen the Single Market and capital markets to counteract these economic pressures.

• The Federal Open Market Committee (FOMC) released the minutes from its July meeting on Wednesday, revealing that officials believe inflation remains elevated. • The meeting involved twelve Fed officials, including the seven Board of Governors members and five regional Reserve Bank presidents, who assess economic conditions to set monetary policy.

• Long-term U.S. Treasury yields surged to their highest levels since 2007 on Tuesday, triggering a significant bond market sell-off. • In response to the volatility, the Treasury Secretary doubled the government's buyback of debt to stabilize the market.

• Global markets rallied and government bond yields fell after the U.S. Treasury Department announced it would double the amount of debt it can buy back from investors. • This strategic move aims to reduce stress among bond investors by managing the supply of government debt more effectively.

• The Federal Reserve released the minutes from the Federal Open Market Committee (FOMC) meeting held on July 28–29, 2026. • The document provides a detailed record of the discussions and deliberations regarding U.S. monetary policy during the two-day session.

• India has replaced Indonesia as the least-preferred stock market in Asia, reflecting growing caution among fund managers toward the country's equities. • A survey conducted between August 7 and 13 of 98 fund managers overseeing $272 billion in assets found India's stocks to be among the region's worst performers this year.

• Asian stock markets trended upward on Thursday, with South Korea leading the gains across the region. • The rally was triggered by the announcement of a US Treasury buyback plan, which has positively influenced bond yields.

• India has become the least-favoured market in the Asia-Pacific region among fund managers, ranking below China, Indonesia, and the Philippines. • The lack of an AI-driven investment play and weak growth projections are cited as the primary reasons for the current wariness.

• Singapore, Japan, and Hong Kong are currently reshaping global wealth migration patterns as of 2025, while outflows from China and India have begun to slow. • The shift indicates that global capital is increasingly prioritizing regulatory clarity, institutional credibility, and stability over simple tax incentives or growth projections.

• European gas prices have surged by 120% in 2026, leaving the region highly vulnerable to a costly winter due to low storage levels and supply risks. • While France, Italy, and Spain are responding quickly to these shifts, the Netherlands is experiencing almost immediate price pass-through.