Gold has perked above the Asian high of $3508 from earlier today and touched a fresh record at $3512.The close today is important as gold has been consolidating for months below $3500 and a break higher could mark the start of an extended run. There is plenty to like on the fundamental side as Trump undermines the US dollar by stacking the Fed and creates uncertainty by sacking the head of the BLS.Seasonally, gold does poorly traditionally in September, so that's a headwind. It's the worst month for gold but is followed by seasonal strength in Nov/Dec though Feb. Given that, a pullback might be worth riding out.The downside risk for me comes if the courts block Trump's tariffs and Congress also refuses to endorse them. That could unwind much of the turmoil this year and de-fang Trump. It could also create some sovereign debt concerns. This article was written by Adam Button at investinglive.com.

The risk mood has stabilized somewhat following the US equity open. This was flagged first by FX as dollar sellers entered the fray a short time earlier.Treasury yields have come down across the curve after the earlier spike, led by European sovereigns. For USD/JPY, the lows just below 148.00 correspond with the 50% retracement of the rally that started in Asian trading. In the past few minutes, there has been a bounce to 148.12. Eye further support at 147.77, which is the 61.8% retracement.Economic data today wasn't exactly great for the US dollar as the ISM manufacturing report pointed to stagflation in the sector, and Friday's news of a successful court challenge to the tariffs will paralyze investment decisions going forward. For me, I don't see a big pull towards the 'risk off' trade, aside from the poor September seasonals. Trump's tariff getting removed would be unambiguously good for global growth and trade certainty. Yes, it could hurt sovereigns but the tariffs weren't raising much money anyway (at least in the context of the massive US fiscal deficit). This article was written by Adam Button at investinglive.com.

There has been some uncertainty about what Trump might announce today at 2 pm ET but a wire report now says he will announce the Space Command headquarters at the time. This article was written by Adam Button at investinglive.com.

Prior was -0.4% This article was written by Adam Button at investinglive.com.

Prior was 48.0Prices paid 63.7 vs 65.3 expected (64.8 prior)Employment 43.8 vs 44.5 expected (Prior 43.4)New orders 51.4 vs 47.1 priorImports 46.0 vs 47.6 priorProduction 47.8 vs 51.4 priorComments in the report:“A 50-percent tariff on imports from Brazil, combined with the U.S. Department of Agriculture’s elimination of the specialty sugar quota, means certified organic cane sugar — and everything made with it — is about to get significantly more expensive.” (Food, Beverage & Tobacco Products)“Orders across most product lines have decreased. Financial expectations for the rest of 2025 have been reduced. Too much uncertainty for us and our customers regarding tariffs and the U.S./global economy.” (Chemical Products)“Tariffs continue to be unstable, with suppliers adding surcharges ranging between 2.6 percent to 50 percent.” (Petroleum & Coal Products)“Tariffs continue to wreak havoc on planning/scheduling activities. New product development costs continue to increase as unexpected tariff increases are announced — for example, 50-percent duties on imports from India, and increases to all countries up from original 10 percent. Our materials/supplies are now rising in price, so our sell pricing is again being reviewed to ensure we keep a sustainable margin. Plans to bring production back into U.S. are impacted by higher material costs, making it more difficult to justify the return.” (Computer & Electronic Products)“The construction industry, especially home building, is still at a lower level. With new construction at a low level, our new sales are impacted. We are mainly now relying on replacement business. Cost of goods sold is higher due to tariff-impacted goods.” (Machinery)"Domestic sales remain flat but are down four percent from plan by unit volume [tariff pricing]. Export demand is falling as customers do not accept tariff impacts, which likely will require some production transfers out of the U.S. Supplier deliveries remain consistent with ocean shipping costs dropping significantly. Tariff costs have biggest financial impact but also costs of copper and of steel products." (Fabricated Metal Products)“The trucking industry continues to contract. Our backlog continues to shrink as customers continue to hold off on buying new equipment. This current environment is much worse than the Great Recession of 2008-09. There is absolutely no activity in the transportation equipment industry. This is 100 percent attributable to current tariff policy and the uncertainty it has created. We are also in stagflation: Prices are up due to material tariffs, but volume is way off.” (Transportation Equipment)“Very tentative domestic market, with home building and remodeling not very active at all. Inflation, among other factors, is starting to impact consumer buying power, leading to negative signs for our order files. International markets are upended due to the unpredictability of on-again, off-again tariff activity.” (Wood Products)“We’ve implemented our second price increase. ‘Made in the USA’ has become even more difficult due to tariffs on many components. Total price increases so far: 24 percent; that will only offset tariffs. No influence on margin percentage, which will actually drop. In two rounds of layoffs, we have let go of about 15 percent of our U.S. workforce. These are high-paying and high-skilled roles: engineers, marketing, design teams, finance, IT and operations. The administration wants manufacturing jobs in the U.S., but we are losing higher-skilled and higher-paying roles. With no stability in trade and economics, capital expenditures spending and hiring are frozen. It’s survival.” (Electrical Equipment, Appliances & Components)“There is still uncertainty in the construction market. Large expansions or investment are hampered by the unknown of costing and the economy. The markets we operate in can be strong short term, but there is an underlying feeling that has you questioning for how long.” (Nonmetallic Mineral Products)There isn't much optimism in these comments but the rise in new orders is some comfort. There has been some dip buying in US stock markets. This article was written by Adam Button at investinglive.com.

Prelim was 53.3Prior was 49.8Three year highInput cost inflation accelerated in August and was the second-sharpest in the past three years The ISM manufacturing survey is due at the top of the hour alongside construction spending numbers.Chris Williamson, Chief Business Economist at S&P Global Market Intelligence “Purchasing managers reported that the US manufacturing was running hot over the summer. “The past three months have seen the strongest expansion of production since the first half of 2022, with the upturn gathering pace in August amid rising sales. Hiring also picked up again in August as factories took on more staff to meet an influx of new orders and an accumulation of uncompleted work for waiting customers. “The manufacturing sector is therefore on course to provide a boost to the US economy in the third quarter. “The upturn is in part being fueled by inventory building, with factories reporting a further jump in warehouse holdings in August due to concerns over future price rises and potential supply constraints. These concerns are being stoked by uncertainty over the impact of tariffs, fears which were underpinned by a further jump in prices paid for inputs by factories, linked overwhelmingly by purchasing managers to these tariffs. “Cost increases are being passed on to customers via widespread hikes to factory gate prices. The big question is the degree to which these price rises will then feed through to higher consumer price inflation in the coming months.” This article was written by Adam Button at investinglive.com.

It's an ugly one in stocks today with the S&P 500 falling back to August 21 levels.Among the losers in today's trade are:Citi -3.4%Freeport-McMoran -3.3%Blackstone -3.2%Vistra -3.1%Qualcom -3.1%Nvidia -2.5%United Airlines -2.3%Amazon -2.2%Pepsico is a rare winner, up 4.4%, after activists at Elliott Management took a stake. This article was written by Adam Button at investinglive.com.

The world does not revolve around AI stocks; other assets perform very well. A notable example is gold, which surpassed $3,500 per ounce for the first time in history last week. Since the beginning of the year, the precious metal has gained up to 30%.To put that in perspective, the S&P 500 and Nasdaq have only risen 10% and 11.3% in the same period, while BTCUSD has risen around 12%. It's not just about geopolitics; despite Trump's attempts, tensions show no signs of abating, whether in Eastern Europe or the Middle East.One of the main factors driving the latest rise in gold prices has been increased expectations of a Fed interest rate cut, even if only by 25 bp. Following the sharp downward revision of U.S. labor market data for May and June, the chances of a long-awaited monetary policy easing increased significantly.According to the CME FedWatch tool, there is now an 89% chance that the Fed will cut rates to 4.00-4.25% at its September meeting, down from the current 4.25-4.50%. With two more meetings ahead, rates could fall even further by the end of the year unless the macro prevents it.The thing is that while the U.S. labor market does seem to be cooling (Friday’s unemployment data will be key), last week’s PCE figures suggest the inflation battle isn’t over. The Fed’s preferred inflation gauge — the PCE deflator — rose 0.2% month-over-month and 2.6% year-over-year in July. Although the annual pace remains below the Fed's forecasts, the trend shows signs of acceleration.Donald Trump has also boosted gold's momentum, specifically with his repeated attacks on Fed officials, whom he is pressuring to change monetary policy “the right way.” Of course, the Fed is supposed to maintain its independence and make decisions based on its dual mandate of full employment and stable inflation. If policy changes begin to reflect political pressure, confidence in the Fed could be undermined. It is no surprise that Treasury yields and the dollar index have reacted negatively after each of Trump's outbursts against Powell or other Fed members. If he ultimately gets his way, market conditions could deteriorate further.Last but not least, trade tensions also play in gold's favor. For example, amid growing friction with India, reports suggest that New Delhi has been reducing its holdings of U.S. Treasuries while increasing its gold reserves in response to Trump's widespread tariffs. China is also reducing its holdings of Treasuries.In summary, if the Fed cuts interest rates more aggressively, geopolitical tensions remain high, and the dollar continues to weaken, gold could exceed $3,600 by the end of the year. That said, things can change quickly — so it’s worth keeping a close eye on how the story unfolds. This article was written by IL Contributors at investinglive.com.

Fundamental OverviewThe USD finished last week at the lows despite the lack of meaningful catalysts. Overall, it just maintained the bearish bias triggered by Powell’s dovish tilt at the Jackson Hole Symposium. This week it’s doing the opposite with most of last week’s losses already erased. We are just ranging ahead of the key US data. In fact, traders will be focused on the US labour market data this week, culminating in the NFP report on Friday. The data will influence interest rates expectations greatly. Right now, the market is pricing an 89% probability of a rate cut in September and a total of 55 bps of easing by year-end. Strong data might take the probability for a September cut towards a 50/50 chance but will certainly see a more hawkish repricing further down the curve and likely support the dollar. Soft data, on the other hand, will likely see traders increasing the dovish bets with a third cut by year-end being priced in and weighing on the greenback.On the GBP side, the BoE delivered a hawkish cut at the last meeting and since then the data has been coming on the hotter side. In fact, the latest UK CPI surprised once again to the upside and the latest Flash PMIs, although mixed, showed strength and persistent inflationary pressures.Inflation should be the central bank’s biggest concern even if it takes labour market weakness to get back to 2%. That’s even more important now that UK long term yields continue to surge. The bond market got tired of the lack of actions to fix the inflation problem. GBPUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that GBPUSD sold off all the way back to the key 1.3368 support today after the UK 30yr yields jumped to a new cycle high. The price is now bouncing as the buyers stepped in with a defined risk below the support to position for a rally back into the 1.3590 resistance. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 1.3140 level next. GBPUSD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see more clearly the bounce from the support. There’s not much else we can glean from this timeframe, so we need to zoom in to see some more details.GBPUSD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the most recent swing low around the 1.3445 level could act as a minor resistance. If the price gets there, we can expect the sellers to step in with a defined risk above the resistance to keep pushing into new lows. The buyers, on the other hand, will look for a break higher to increase the bullish bets into the resistance. The red lines define the average daily range for today.Upcoming CatalystsToday we get the US ISM Manufacturing PMI. Tomorrow, we have the US Job Openings data. On Thursday, we get the US ADP, the latest US Jobless Claims figures and the US ISM Services PMI. On Friday, we conclude the week with the US NFP report. This article was written by Giuseppe Dellamotta at investinglive.com.

Prior +2.0%Core CPI +2.3% vs +2.3% y/y expectedPrior +2.4%Headline annual inflation may have ticked a little higher in August but core annual inflation is seen moderating just a little bit at least. The latter is still the most crucial data point and will help the ECB to maintain their current stance ahead of next week's policy decision. The breakdown shows that services inflation remains a sticking point at 3.1%. This article was written by Justin Low at investinglive.com.

PrimeXBT, a global multi-asset broker, has launched a new brand campaign titled "Empowering Traders to Succeed", to enable traders maximise their performance, growth and long-term success. As the industry progresses to greater transparency, performance, and control, PrimeXBT is setting a new standard for what trader empowerment truly means.With more platforms, products, and opportunities available today, traders are becoming more conscious and selective in how they engage with markets, prioritising clarity, fairness, and trust. PrimeXBT’s campaign reflects this transition and aligns with the broader movement to trader autonomy. It also tells a larger brand story of continuous evolution, shaped by real trader behaviour. According to PrimeXBT, the "Empowering Traders to Succeed" campaign is built on its core philosophy that the trader comes first. Since its launch in 2018, the crypto and CFD broker has built its roadmap around what traders actually want, creating an ecosystem that evolves with its users and responds to the deeper transformation in the trading landscape. Every upgrade it has made, every product it has launched, is about removing friction, reducing uncertainty, and creating the conditions for traders to grow on their own terms.PrimeXBT defines empowerment as the foundation of its all-in-one trading experience, built on five core values. The broker delivers excellence in trading with access to a wide range of global markets and professional-grade tools for both beginners and experienced traders. It prioritises trust and reliability through a regulated environment, compliance, and proven platform stability. With industry-leading conditions, ultra-low fees, and tight spreads, PrimeXBT gives traders a competitive edge while standing for integrity and transparency through fair pricing and predictable execution. Backed by a client-first culture with personalised support and education, PrimeXBT empowers traders to grow with confidence, supported at every step.The "Empowering Traders to Succeed" campaign is PrimeXBT’s commitment to redefining what it means to trade today. As the financial markets industry enters a new era of trading, the broker is leading the change with a platform built for clarity, control, and growth, where empowerment becomes the new benchmark.About PrimeXBTPrimeXBT (https://primexbt.com) is a global multi-asset broker trusted by over 1,000,000 traders in 150+ countries, offering a next-generation trading experience that bridges traditional and digital finance. Clients can trade CFDs on Stocks, Indices, Commodities and Crypto, as well as Crypto Futures and Forex. PrimeXBT also enables clients to buy and sell cryptocurrencies, store them in secure built-in wallets, and instantly exchange crypto to crypto or fiat to crypto, all within one integrated environment. Since 2018, PrimeXBT has made investing more accessible by lowering barriers to entry and providing secure, easy access to financial markets. This accessibility extends across its native web and mobile platforms, MetaTrader 5, and a variety of funding options in crypto, fiat, and local payment methods. Committed to putting clients first, PrimeXBT empowers traders of all levels with innovative tools and industry-leading conditions, delivering a better way to trade.Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. The Company does not accept clients from the Restricted Jurisdictions as indicated on its website / T&Cs. Some services or products may not be available in your jurisdiction. The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration. This article was written by IL Contributors at investinglive.com.

But it is more true than not that another rate cut is comingSome risks to the economy are materialisingThe mix of comments lean a bit more dovishly but the headline remark reaffirms that they are not in a hurry to make any adjustments yet. The summer is over, so expect to hear more from ECB policymakers in the coming days before their upcoming policy decision on 11 September. This article was written by Justin Low at investinglive.com.

The secretary general of Japan's ruling LDP party, Hiroshi Moriyama, announced his intention to step down after the setback in July. Moriyama is often regarded as the party's No. 2 figure and is a close aide to prime minister Ishiba. That's a major blow to the prime minister and continues to cast doubt over his future despite him being adamant that he won't be stepping down.In joining Moriyama, we are likely to see the general council chairperson of the party, Shunichi Suzuki, also resign from his post. Kyodo News is reporting that will be the case and this will just inflict more political uncertainty on how the incumbent government is going to carry on in this capacity. This article was written by Justin Low at investinglive.com.

Today, the UK 30yr yield jumped to a new cycle high reaching the highest level since 1998. The main narrative is of course rising debt concerns with governments continuing to spend and spend. The UK borrowing costs are the highest among the G7 nations.But this is not a UK-only story. It's a global one.Long term yields have been rising in other major countries too and the problem is not just government spending but the dovish bias from central banks. This is also one of the main reasons for the surge in gold prices.Inflation is the worst enemy for bonds and central banks are not prioritising the fight against inflation hard enough. In the case of UK, the BoE has been cutting interest rates in the face of the highest inflation among the G7 countries with a government that continues to run big deficits. This is anathema for the bond market.The cure for this mess could be ironically higher interest rates. Central banks should change their reaction function and put rate hikes on the table. For the UK, the damage might be already irreversible and to get long term rates down they might need a painful recession. I can't see any other way out than contractionary policies.Long term yields would come down if the central banks were to hike rates because the bond market would expect a big slowdown in the economy, higher unemployment and eventually lower inflation. This is what central banks wanted to avoid by targeting a soft landing instead of getting inflation quickly back to target. Now, that soft landing could be gone and the only way out could be a hard landing. This article was written by Giuseppe Dellamotta at investinglive.com.

I'm not entirely convinced that piling into the dollar is the right play here but evidently, it seems like the blowout in bonds (yields surging higher) is seeing a rush to cash. Margin calls being hit? We're also starting to see equities get struck down as well with S&P 500 futures now lower by 0.6% on the day.The gilts market made headlines earlier when 30-year yields, currently at 5.69%, ran up to its highest since 1998. The move higher has been coming all through August and it's also the same case for the likes of Europe, Japan, and the US. However, today looks to be the straw that breaks the camel's back as we see broader market implications hit.In response, the FX market is seeing strong bids into the dollar pile in. EUR/USD is down 0.6% to 1.1640 and USD/JPY is up 1% on the day to 148.60 currently.What looked like a potentially quiet session in Europe has turned out anything but that at the moment.GBP/USD is also now down 1% to 1.3405 and even USD/CHF is more bid, up 0.3% on the day to 0.8030 currently. In turn, risk currencies are also lower with AUD/USD down 0.7% to 0.6505 on the day.As much as we are seeing spillovers to broader markets, it's best to keep a level head on the situation at hand. A call for correction in equities is definitely something to be wary about especially if long-end yields continue to blow up in the week(s) ahead.As for currencies, I'm still holding reservations about the dollar in general in all of this. The US yield curve continues to steepen and if that's a sign of a policy mistake by the Fed, it's not exactly one that will be all too supportive for the dollar amid ongoing political pressures and a confidence/credibility hit.And despite the initial setback to gold we're seeing at the moment, the precious metal stands to reason to shine in this sort of environment. So, do keep an eye out for dip buyers in trying to seize the opportunity here once the dust settles. This article was written by Justin Low at investinglive.com.

S&P 500 futures are now down 0.5% as markets are seeking shelter amid the blow up in bond yields. European indices are also sinking lower across the board with the DAX now down nearly 1% with the CAC 40 also turning early gains to losses now. It's all coming undone as we see long-end yields surge higher all across major economies.France's 30-year yields are now above 4.50% for the first time since 2011 and that follows suit from the situation in the UK here. And as warned there, it was only a matter of time before the spillover impact hits at stocks today. And it's not just in Europe, we're seeing the same in Japan and also the US as well. From last week: The US yield curve continues to steepen post-Jackson HoleThese are testing times and if there's ever a good reason for a correction in stocks, this would be it.Elsewhere, gold is also being dragged back down on the day as traders are seeking safety in the US dollar at the moment. The precious metal has pared earlier gains to $3,478 now. But if it is a case of truly focusing on the blow up in yields with a steepening of the yield curve, I reckon the play will be to buy gold on dips for the long haul. This article was written by Justin Low at investinglive.com.

In the trading world, every participant aims for profit: it is as true for brokers as for retail traders. However, the trick is that positive outcomes in the long term are only possible if the relationships between a broker and its clients are mutually beneficial. Experts at Octa, a globally regulated and trusted broker since 2011, explain why, for a broker, aiming for reliability and client trust is more profitable in the long run than questionable business practices that may bring fast gains.The role of reputation for brokersFor most global financial brokers, the entire business model depends on clients' ongoing participation. The higher the volume traded by clients, the higher the broker's profits. This is why, in the world of trading, reputation is everything. A broker that operates according to best practices in terms of fairness and transparency establishes a high level of trust from the get-go. This is a significant advantage that can't be matched by dubious tricks or chart manipulations, such as price distortions or slippages. In turn, traders who suspect that price charts have been intentionally changed or that information has been presented in a misleading way will not engage with such a broker for long. Moreover, suspicions of unsound practices often spread rapidly among trading communities, damaging the broker's reputation. By contrast, a broker providing clients with reliable price feeds, transparent trading conditions, and clear information on market mechanics builds credibility, translating into consistent long-term profit.Brokers cooperate with regulatory authorities to avoid various manipulations and establish sustainable and ethical practices in the trading industry. By meeting the requirements of regulatory bodies and obtaining the respective licences, brokers show that their processes are on par with the benchmarks, and their clients can safely trade with them.Why engaging in manipulations doesn't pay offWhile questionable practices like price slippage and chart manipulations may provide a temporary gain, it is a shortsighted approach for any experienced and large broker. Altering price graphs or creating misconceptions about execution speed and spreads can result in short-term revenues from clients who lose more quickly. Yet such practices guarantee high client turnover, regulatory scrutiny, and the eventual collapse of trust.Transparency, on the other hand, creates a steady flow of trading activity. Clients who know they are operating in a transparent, regulated environment are more likely to trade successfully and remain with the broker for years. It is the key consideration for any broker, since the broker's profits come not from exploiting clients, but from fostering their growth and encouraging their continuous engagement with the platform.KYC and AML proceduresTo achieve transparency, trustworthy brokers use the processes of know your client (KYC) and anti-money laundering (AML). At this point, both of these protocols have become the golden standard of the financial industry—and for a good reason. These are not simply requirements imposed from the outside, but core pillars of reliability. The KYC process ensures that the broker understands who it is dealing with and confirms that the trader's identity and source of funds are legitimate. This set of measures protects the broker from fraudulent activity while assuring traders that the community they are part of is genuine and secure. In turn, AML procedures safeguard the trading platform from becoming an exchange for criminals. By strictly monitoring deposits and withdrawals, the broker reflects its stance on maintaining integrity. When traders see these processes handled responsibly, they understand that the broker values legality and security over quick, unscrupulous gains.ConclusionAt the end of the day, successful brokers easily decide between manipulation and transparency. The latter is legitimate and fair to traders and is more sustainable and profitable in the long run. Manipulative practices may generate short-lived income but always lead to reputational damage, client mistrust, and legal consequences. On the other hand, transparent, fair, and well-regulated e-brokerage practices foster long-term trading activity, client retention, and steady profits. Disclaimer: This article does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences.About OctaOcta is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 61 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including improving educational infrastructure and funding short-notice relief projects to support local communities.Since its foundation, Octa has won more than 100 awards, including the 'Most Reliable Broker Global 2024' award from Global Forex Awards and the 'Best Mobile Trading Platform 2024' award from Global Brand Magazine. This article was written by IL Contributors at investinglive.com.

AEL Limassol kicked off their 2025–2026 league campaign in style with a 2–0 win in their opening match on Friday, August 22, 2025, marking an impressive start to the season.The match also highlighted the continued partnership between AEL Limassol and IC Markets EU, one of the leading global multi-asset brokers. Earlier this year, IC Markets EU renewed its Gold Sponsorship agreement with the club until 2027, reinforcing its long-term support of the team and its connection with the Limassol community.Founded in 1930, AEL Limassol has established itself as one of Cyprus’s most prominent football clubs, with a passionate fanbase and a history of competitive success. By extending its Gold Sponsorship, IC Markets EU has reaffirmed its commitment to contributing to the growth of the sport and supporting the club’s ambitions on and off the pitch.IC Markets EU stated in its renewal announcement: “Supporting AEL Limassol is about more than football — it’s about being part of a community and a legacy. We are excited to continue our partnership and look forward to another successful season ahead.”With a strong opening victory and renewed backing from a long-term sponsor, AEL Limassol begins the 2025–2026 season with both momentum and stability, setting the stage for another exciting campaign. This article was written by IL Contributors at investinglive.com.

It's a rough tumble for the pound as 30-year yields in the UK blow up further, rising to 5.68% - its highest since 1998. This is going to put mounting pressure on Starmer and Reeves to figure out a plan to try and calm down markets and bolster confidence again.The move higher in long-end yields has been one that is going on for a while. But as usually with cases like this, the pain point will come when it comes. And it looks like today is that day.Just be mindful that this sort of blowing up in long-end yields is not just isolated to the UK. We're also seeing similar blow ups in the euro area and the US as well. From last week: The US yield curve continues to steepen post-Jackson Hole10-year yields in the US are also seen up 4 bps to 4.270% today and 30-year yields are up nearly 5 bps to 4.965%. That's helping to underpin USD/JPY as well with the pair up 0.7% to 148.20 currently.In terms of currency reactions, the pound is bearing the brunt of the pain here with GBP/USD down 0.5% to 1.3483 on the day. Other major currencies are also down slightly against the dollar now to kick start the session.If anything, the signal here that the blow up in yields is starting to hit broader markets will be a negative for risk sentiment. So, keep an eye out on a spillover impact to equities later. This article was written by Justin Low at investinglive.com.

Eurostoxx -0.1%Germany DAX -0.2%France CAC 40 +0.3%UK FTSE -0.2%Spain IBEX -0.1%Italy FTSE MIB -0.1%French stocks are the exception, holding slightly higher to start the day at least. But relative to their peers, they are the ones lagging behind after having been pulled down late last month amid political worries. US futures are also looking more tepid, with S&P 500 futures down 0.1% currently. Euro area inflation will feature later today but that won't do much to move the needle for European equities. This article was written by Justin Low at investinglive.com.