{"id":73851,"date":"2026-10-29T22:08:14","date_gmt":"2026-10-30T02:08:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-pivot-treasuries-rally-on-tech-selloff-as-geopolitical-risks-propel-oil\/73851\/"},"modified":"2026-10-29T22:08:14","modified_gmt":"2026-10-30T02:08:14","slug":"global-markets-pivot-treasuries-rally-on-tech-selloff-as-geopolitical-risks-propel-oil","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-pivot-treasuries-rally-on-tech-selloff-as-geopolitical-risks-propel-oil\/73851\/","title":{"rendered":"Global Markets Pivot: Treasuries Rally on Tech Selloff as Geopolitical Risks Propel Oil"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US Treasuries rallied across the curve<\/strong> as a major selloff in megacap technology stocks, led by disappointing earnings from Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>) and Intel (<a href=\"\/stock\/INTC\">INTC<\/a>), triggered a flight to safety.<\/li>\n<li><strong>Crude <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> surged by $2 per barrel<\/strong> following reports that President Trump was briefed on military options regarding Iran, reigniting fears of supply disruptions in the Middle East.<\/li>\n<li><strong>The British Pound (GBP) climbed to $1.3400<\/strong>, supported by a hawkish Bank of England (BoE) outlook and broad-based US Dollar weakness as safe-haven demand shifted toward bonds.<\/li>\n<li><strong>The Onshore Yuan (CNY) hit a nearly four-year high of 6.66<\/strong> against the US Dollar, driven by robust Chinese export data and the People&#39;s Bank of China&#39;s (PBoC) firmer daily fixings.<\/li>\n<\/ul>\n<h2>Tech Earnings Slump Drives Haven Demand for Bonds<\/h2>\n<p>US government debt extended its rally on Friday as investors rotated out of equity markets following a string of underwhelming technology earnings. Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>) saw its shares slump <strong>7.3%<\/strong> in extended trading due to rising capital expenditures and slowing online growth, while Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) plummeted <strong>23%<\/strong> after missing revenue estimates.<\/p>\n<p>The benchmark <strong>10-year Treasury yield fell to 4.89%<\/strong>, while the <strong>30-year yield dropped 12 basis points to 5.39%<\/strong>. This move reflects a growing <em>flight-to-safety<\/em> sentiment as market participants question the sustainability of the artificial intelligence spending boom amidst higher interest rates and persistent inflation.<\/p>\n<h2>Geopolitical Tensions Between US and Iran Propel Oil Prices<\/h2>\n<p>Crude oil benchmarks Brent and WTI gained approximately <strong>$2 per barrel<\/strong> in early Friday trading. The spike followed reports that the US military briefed President Trump on potential strike options against Iran, clouding recent hopes for a diplomatic breakthrough.<\/p>\n<p><strong>Brent crude futures rose 0.7% to $115.72 per barrel<\/strong>, while <strong>West Texas Intermediate (WTI) gained 0.8% to reach $102.77<\/strong>. Traders remain highly sensitive to developments near the <strong>Strait of Hormuz<\/strong>, as any escalation in the region threatens to disrupt a vital global oil transit route.<\/p>\n<h2>Sterling Gains on Hawkish BoE and Dollar Softness<\/h2>\n<p>The British Pound (GBP) extended its gains for a third consecutive day, trading near <strong>1.3400<\/strong> against the US Dollar. The currency&#39;s strength is underpinned by expectations that the <strong>Bank of England<\/strong> will deliver a <strong>25-basis-point rate hike<\/strong> in November to combat stubborn inflation.<\/p>\n<p>While the US Dollar faced pressure from the Treasury rally, it was further weighed down by improving risk appetite in some FX pockets following reports of a potential diplomatic letter sent to Tehran. However, the greenback remains supported by resilient US economic data, with <strong>Q3 GDP growing at an annualized rate of 3.4%<\/strong>.<\/p>\n<h2>Onshore Yuan Reaches Multi-Year High<\/h2>\n<p>The Chinese Yuan strengthened to <strong>6.66 per dollar<\/strong>, its highest level since mid-2022. The currency&#39;s appreciation is backed by a <strong>36.3% year-on-year surge in exports<\/strong>, which reached <strong>$447.18 billion<\/strong> in September.<\/p>\n<p>The <strong>People&#39;s Bank of China<\/strong> has continued to support the currency through firmer daily midpoint fixings. Analysts at JPMorgan Asset Management (<a href=\"\/stock\/JPM\">JPM<\/a>) suggest the yuan could see further gains of up to <strong>10%<\/strong> in the long run as Beijing continues its push to internationalize the renminbi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US Treasuries rallied across the curve as a major selloff in megacap technology stocks, led by disappointing earnings [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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