深夜突发！美国“股债汇”三杀，丹麦一养老基金将清仓美债，投资者狂买黄金避险：金价突破4750美元！达利欧警告“资本战争”风险

Market Overview - On January 20, the US market experienced a significant decline, with the Dow Jones index falling by 1.36%, the S&P 500 by 1.51%, and the Nasdaq Composite by 1.78% [1] - Major tech stocks also saw declines, with Nvidia and Tesla dropping over 3%, while Google A, Amazon, and Meta fell over 2%, and Apple and Microsoft decreased by over 1% [1] Bond Market - The yield on the US 30-year Treasury bond rose by more than 8 basis points to 4.916%, while the 10-year Treasury yield reached a high of 4.309%, marking the highest levels since early September of the previous year [3] - Rising yields indicate a decline in bond prices, reflecting investor sentiment [3] Currency and Commodities - The US dollar index reported a decline of 0.55%, standing at 98.5055 [5] - Bitcoin fell below $90,000, decreasing by 2.84%, while spot gold reached a new historical high, surpassing $4,750, with a 1.57% increase to $4,742.682 per ounce [9] - Spot silver rose by 0.58%, with a year-to-date increase of over 30% [9] European Market Impact - Major European stock indices also experienced declines, with the UK FTSE 100, France's CAC40, Germany's DAX, and Italy's MIB all dropping over 1% [7] Geopolitical Factors - Analysts noted that recent threats from the US to impose tariffs on several European countries have created significant uncertainty, prompting investors to sell off dollar assets in favor of safe-haven assets [11] - The EU is considering imposing tariffs on $93 billion worth of US goods in response, which could further strain US-EU relations [11] - High-profile investors, including Goldman Sachs and Ray Dalio, expressed concerns that US policies could lead to a "capital war," diminishing confidence in US assets and increasing interest in gold as a hedge [11] Central Bank Actions - The Polish central bank approved a plan to purchase up to 150 tons of gold, aiming to increase its reserves to 700 tons, positioning Poland among the top 10 countries globally in gold reserves [12] - The Danish pension fund "AkademikerPension" plans to sell all its US Treasury holdings due to concerns over credit risk associated with US policies [12][13] Global Bond Market Trends - The US Treasury's "safe-haven" status is being questioned amid rising fiscal deficits and geopolitical tensions, leading to concerns about the reliability of the largest bond market during risk-off sentiment [14] - Japan's bond market also faced significant sell-offs, with the 30-year bond yield rising over 30 basis points to 3.915%, marking a historic high [14][17] Conclusion - The current market environment is characterized by rising yields, declining stock prices, and increased interest in gold and other safe-haven assets, driven by geopolitical tensions and concerns over fiscal sustainability [18]