Oil jumps on Iran strike options as bond yields climb and bitcoin slips
Brent rallied on Iran strike reports and a Gulf of Mexico hurricane, pushing government bond yields higher. Bitcoin lost a key level while US ETFs posted their largest outflow since June.
Markets in this brief
| Market | Last | Day | 1 month | Year to date | Oct average | Oct pattern |
|---|---|---|---|---|---|---|
| Brent crude oil | 100.20 | -0.38% | +4.07% | +64.67% | -1.01% | no clear pattern |
| German 10-year Bund yield | 3.18% | +11 bp | +1 bp | no clear pattern | ||
| Bitcoin | 83,275.93 | -2.67% | +5.26% | -4.84% | +16.63% | weak |
| Ether | 2,573.53 | -4.60% | +3.31% | -13.26% | +6.73% | no clear pattern |
Sources (8)
- Brent crude, the international benchmark, rose by 5% to $105.3 a barrel on Thursday, triggering a wave of selling in the global bond and stock markets. The Guardian, Oct 8
- The yield on the UK 10-year government bond hit its highest level since July 2007, rising six basis points to 5.515%. The Guardian, Oct 8
- In France, the 10-year yield rose by six basis points to 4.931%, just behind the 24-year high of 4.994% it hit last week. The Guardian, Oct 8
- The Atlantic reported that the White House asked the Pentagon to draw up options for strikes against Iran before the US midterm elections, and the size and targets of any strikes were still being debated. The Guardian, Oct 8
- Shell and Chevron said they were shutting down Gulf of Mexico production as the first hurricane of the Atlantic season approached, with landfall forecast for Friday or Saturday. The Guardian, Oct 8
- US spot Bitcoin ETFs recorded $484.9 million in net outflows on Wednesday, the largest since June 25, wiping out the $321.6 million of net inflows from October's first four trading sessions. Cointelegraph, Oct 7
- US spot Ether ETFs recorded $160.9 million in net outflows on Wednesday, their seventh straight losing session, and have shed approximately $569 million since Sept. 29. Cointelegraph, Oct 7
- Bitcoin fell 1.6% to just under $82,800 on Thursday, below the $83,000 level that FxPro said would confirm sellers had taken control, and the firm said a break there could send bitcoin to $80,000 fairly quickly. CoinDesk, Oct 8
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