Workflow
US shutdown risks
icon
Search documents
Global Markets Rally: Bitcoin Soars Past $118K, Gold Holds Strong Amid UK Fiscal Concerns and Japan Bond Woes
Stock Market Newsยท 2025-10-02 04:38
Cryptocurrency Market - Bitcoin (BTC) has surged 3.6% to trade at $118,747.48, while Ethereum (ETH) climbed 4.3% to $4,375.18, indicating strong investor interest and momentum in the cryptocurrency market [3][10]. Commodities Market - Gold is holding firm near its recent peak, driven by ongoing U.S. shutdown risks and the market's anticipation of a more accommodative stance from the Federal Reserve [4][10]. UK Economic Outlook - The UK economy is facing a challenging fiscal outlook, with reports indicating a potential hole in public finances following a productivity downgrade. However, Chancellor Reeves is reportedly set to reverse plans for higher business rates for retailers, providing some relief to the retail sector [5][10]. Japan's Bond Market - Japan's government bond market is experiencing declining investor demand for 10-year government bonds amidst political uncertainty, with the 20-year JGB yield increasing to 2.625% [6][10]. Corporate Developments - Volkswagen (VWAGY) is reportedly taking steps to revive its troubled tech unit, which is considered key to the company's future and underscores its commitment to technological innovation [7][10].