4 October 2026

Assets

• Cross-assetBond yields dominated the week — and most published research now argues "higher for longer" is a feature, not a bug.
• GoldGold's week: brutal tactically, but the structural bull case got louder.
• SilverSilver's week: structurally bullish, tactically contested.
• CopperCopper's bullish case hardened all week, with research pointing to a market "on tenterhooks" heading into year-end.
• OilOil's story this week: physical tightness is real, but the market is split on how long it lasts.
• Natural gasNatural gas researchers were uniformly bullish this week, pointing to tight supply from the Gulf through Europe into North America.
• BitcoinBitcoin's bull case this week came down to one word: debasement.
• US equitiesUS equities ground higher into month-end, with researchers framing Q4 as seasonally friendly — but the tone turned noticeably more cautious by week's end.
• European equitiesEuropean equities ended the week on the defensive, with sentiment turning more cautious as sovereign debt worries resurfaced.
• US bondsUS Treasury yields dominated the conversation this week, with most published research arguing the long end has further to climb.
• EU bondsEuropean sovereign bonds spent the week under fiscal stress, with France at the epicenter.
• EUR/USDEUR/USD hit new year-to-date lows this week as a French fiscal scare collided with a firmer dollar.