Market Pulse

In the last few hours, Treasury Secretary Bessent moved to break the bond-market fever, with reports that the Treasury is doubling its bond buybacks; yields fell in response. That macro development now anchors risk sentiment, while traders turn their attention to the upcoming FOMC minutes. In FX, the Canadian dollar saw modest gains amid a delay in U.S. tariffs, and the TSX edged higher. Meanwhile, the ECB has warned of a potential AI-driven equity correction, adding a cautious note to the broader macro picture even as falling yields provide support across markets. Crypto has taken center stage, led by bitcoin’s surge past $69,000 for the first time since June — its best daily gain since February — after President Trump urged Congress to pass the CLARITY Act and met with industry leaders. Adding to the momentum, the SEC proposed its first major crypto regulation, offering exemptions for certain token sales and moving the sector toward formal clarity. The policy push lifted crypto-exposed equities: MicroStrategy climbed, Coinbase jumped 12.7%, and Korean stablecoin-related stocks advanced. With White House support and proposed SEC rules now in play, digital assets are trading on a wave of regulatory optimism.