Market Information Thursday 9 October 2025

Spot gold surged past $4,000 an ounce for the first time, driven by concerns over US fiscal stability, the government shutdown, and the Federal Reserve’s monetary stance. The metal has jumped more than 50% this year, with bullion-backed ETFs seeing their largest monthly inflow in over three years and central banks continuing to buy gold at a strong pace. Analysts say the rally reflects both a search for safe havens amid geopolitical tensions and expectations of easier monetary policy.

French markets edged higher as caretaker Prime Minister Sebastien Lecornu signalled optimism on the budget ahead of the final day of government formation talks. Ten-year yields fell five basis points to 3.52% and the spread over German bonds narrowed to 83 points, while the CAC 40 rose almost 1%, mainly caused by rising bank shares. Investors remain focused on whether a budget deal will be reached before Wednesday’s deadline, with progress seen as crucial to avoid political uncertainty or snap elections.

U.S. Treasury yields held steady as the government shutdown entered its second week, leaving investors wary amid delayed economic data. The 10-year note traded near 4.13 percent while the 2-year note hovered around 3.59 percent, as markets continue to price in another Federal Reserve rate cut in October. The muted reaction followed Fed minutes showing uncertainty over future policy moves, while attention turned to upcoming remarks from key officials for further guidance.

The 6M Euribor increased with 1 basis point to 2.11% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.66% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.