The shadow of tariffs covers long-term US bonds, the market reassesses the impact of the suspension of tariffs, gold prices hit a record high and approaches 3,200

Basic news

On Friday (April 11, Beijing time), spot gold trading was around 3185.07, and gold prices rose nearly 3% on Thursday, setting a record high of 3190.52. The decline of the US dollar and the escalation of the trade war drove investors toward safe-haven gold. U.S. crude oil traded around $59.87 per barrel, oil prices fell nearly 4% on Thursday, closing down to give up the gains from the previous trading day as investors reassessed the U.S. plan to suspend the imposition of xm-links.comprehensive tariffs, and refiners will stay on the verge of waiting and see if the tariffs are uncertain.

Stock Market

U.S. stocks closed sharply on Thursday as concerns over the economic impact of US President Trump's multi-line tariff war.

Warning concerns about the escalating trade standoff are increasing day by day, curbing optimism about optimistic economic data and US-EU trade negotiations. The three major U.S. stock indexes all fell sharply, giving up a large part of the gains in the previous trading day.

The S&P 500 rose 9.5%, the biggest single-day gain since October 2008 after Trump announced a 90-day tariff suspension on Wednesday. The Nasdaq Index, a major technology stock market leader, soared 12.2%, setting the second largest single-day gain in history.

After the impact of Wednesday's rebound and Thursday's big drop, the S&P 500 is still 7.1% below its level before the announcement of reciprocal tariffs last week.

Murphy & Sylvest senior wealth advisor Paul Nolte said: "Investors are still upset about it because they don't know what the end is, and I think what we're still seeing is investors' concerns about tariffs, which is almost all the questions."The core of the question. "

The Consumer Price Index (CPI) report released by the U.S. Department of Labor shows that consumer inflation slowed unexpectedly in March, with core price growth cooling to 2.8% year-on-year, less than a percentage point away from the Fed's 2% inflation target. But considering ongoing trade negotiations, the Fed's future path is not so clear.

Federal Director Bowman said Thursday that although the U.S. economy remains strong, the impact of Trump's trade policy is unclear, while Chicago Fed Chairman Goulsby said that once the trade policy is Uncertainties are resolved and interest rate cuts may resume.

EU Executive xm-links.committee President von der Leyen said that in response to Trump's 90-day suspension of tariffs, the EU will postpone retaliatory taxes on U.S. goods, and countries within the EU are scrambling to reach a trade deal with the United States.

The CBOE market volatility index, xm-links.commonly known as the "Fear Index", remains high, but has closed off from the intraday high of 40.86. Nolte added, "With such high volatility, it's hard for investors to buy stocks with confidence." "

The Dow Jones Industrial Average fell 2.50% to 39593.66 points. The S&P 500 fell 3.46% to 5268.05 points; the Nasdaq fell 4.31% to 16387.31 points.

Of the 11 major sectors of the S&P 500, except for consumer stocks, all sectors closed lower, with the energy and technology sectors falling the most.

The large tech stocks were under pressure again, with the so-called "big seven" related to artificial intelligence (AI) falling between 2.3% and 7.3%.

CarMax plummeted 17.0%, As the used car retailer made less profitable in the fourth quarter.

The first quarter earnings season will kick off on Friday, with major banks such as JPMorgan Chase, Morgan Stanley and Wells Fargo going to release their earnings.

Gold prices rose nearly 3% on Thursday, a record high, with the decline in the dollar and the escalation of the trade war pushing investors toward safe-haven gold. Spot gold climbed 3%, a record high of $3,190.52.

Gold's safe-haven appeal has returned to the track of record highs again. However, the prospect of reaching an agreement with trading partners poses a significant risk to gold's upside potential, as this may re-pressure on gold. In addition, the reduction in the Fed's bets cut by interest rate cuts may also bring resistance, which will drive the dollar to strengthen. "

The dollar index fell more than 1%, causing gold to lower prices for investors holding other currencies. Thursday's data showed unexpected decline in U.S. consumer prices in March, but inflation risksFlank upward.

After the data was released, traders bet that the Fed would resume rate cuts in June and could adjust the policy rate by 1 percentage point by the end of the year.

Spot silver fell 0.5% to $30.88 per ounce; platinum fell 0.5% to $932.41; palladium fell 1.4% to $918.45.

Oil market

Oil prices closed down more than $2 per barrel on Thursday, giving up the gains from the previous trading day as investors reassessed the U.S. plan to suspend the full tariffs.

U.S. crude oil futures fell 3.7% to close at $60.07 a barrel. Brent crude oil futures fell 3.3% to $63.33 a barrel.

The two contracts rose more than $2 a barrel on Wednesday after U.S. President Donald Trump suspended the high tariffs on dozens of U.S. trading partners a week ago, marking a sudden turnaround for Trump less than 24 hours after the taxation took effect.

Ship tracking agency Kpler shows that U.S. crude oil exports to Asian powers fell to 112,000 barrels per day in March, almost half of the 190,000 barrels per day in the same period last year.

U.S. crude oil inventories rose by 2.6 million barrels last week, almost double the 1.4 million barrels forecast by analysts in Reuters. Macquarie analysts said Thursday they expect inventory to increase again this week.

The U.S. Energy Information Administration (EIA) cut its global economic growth forecast on Thursday and warned that tariffs could hit oil prices hard, and the agency also lowered its U.S. and global oil demand forecasts this year and next two years.

Foreign exchange market

The dollar fell against major currencies on Thursday, hitting a 10-year low against the safe-haven currency, the market digested President Trump's dramatic reversal on tariffs.

Trump recovered the high tariffs imposed on trading partners that were less than 24 hours into effect on Wednesday, shocking the financial markets. He freezes the so-called "Liberation Day" tariffs for 90 days.

The dollar rebounded sharply against the safe-haven currencies Swiss franc and yen on Wednesday, while major Wall Street stock indexes also jumped as tariff easing brings some relief to investors. But traders re-adjusted their positions on Thursday, with the dollar falling 2% against the yen to 144.795 yen; the dollar fell 3.6% against the Swiss franc to 0.82635. The indexes S&P 500, Dow Jones and Nasdaq fell sharply.

The dollar has fallen 3.46% against the yen and nearly 6.5% against the Swiss franc so far this month. The dollar is expected to hit its biggest single-day decline since January 2015.

Eugene Epstein, director of North American structural at Moneycorp, New Jersey, said that until yesterday's 90-day tariffs were suspended, there was widespread chaos in the market -- in fact, the impact involved all markets, and businesses have been working hard to xm-links.complete it.Fully adapted to the tariff system. But now the tariffs are suspended, and all adjustments basically need to be readjusted.

The U.S. Department of Labor released data on Thursday showed that U.S. consumer prices fell unexpectedly in March, but the improvement in inflation is unlikely to continue due to tariffs.

U.S. Treasury yields fell after solid demand for the 10-year Treasury auction, which also dragged down the dollar to a certain extent. The benchmark U.S. 10-year Treasury bond yield fell 2 basis points to 4.376%.

EU Executive xm-links.committee President von der Leyen said on Thursday that the EU will suspend its first countermeasures against the United States after Trump suspended the imposition of tariffs. The euro rose nearly 2.47% to $1.1221, after hitting its highest since July 2023 and hitting its biggest single-day gain since 2022. The pound rose 1.13% to $1.29,720.

Risk-sensitive currencies have also strengthened. The Australian dollar rose 1.24% against the US dollar to $0.62,280; the Swedish krona rose 1.5% against the US dollar to $9.839 kroner.

International News

Trump's 25% auto tariffs could cost U.S. automakers $108 billion

A latest analysis by the Center for Automobile Research found that the 25% auto tariffs imposed by U.S. President Trump in early April will increase U.S. automakers' costs by about $108 billion in 2025. The agency released a study on Thursday found that the specific costs of Detroit automaker Ford Motor, General Motors and Jeep and Ram truck maker Stellantis will increase by $42 billion. The study estimates that the average tariff cost for imported auto parts per vehicle by the three major Detroit automakers is $4,911, higher than the average of $4,239 per vehicle in the entire industry. In terms of imported cars, the study found that the average tariff cost for the entire industry was $8,722 per vehicle, and the average tariff cost for the Detroit Three was $8,641.

Federal Collins: Tariffs rise may delay interest rate cuts

Boston Federal Reserve President Susan Collins said the central bank may cut interest rates later this year, but tariff-driven inflation may delay further interest rate cuts. "New price pressures may delay further policy normalization because there is a need for confidence to ensure tariffs do not undermine inflation expectations," Collins said. As policymakers await a clearer picture of how tariffs will affect the economy, Collins said it is best to keep interest rates stable "for the time being". She said: "I think that in this highly uncertain environment, monetary policy can respond well to various potential economic consequences."

U.S. Secretary of xm-links.commerce: Immigration "gold cards" will be issued within a week

U.S. Secretary of xm-links.commerce Lutnik said on the 10th local time that he would be issued within a week. US President Trump once said on April 3 that he expected to issue a "golden card" visa in the next few weeks. On February 25th local time, TrumpPu told the media at the White House that he plans to sell a US "gold card" priced at $5 million per card, and the target group is wealthy immigrants. According to him, this kind of "gold card" will not directly give buyers US citizenship, so it does not need to pass the US Congress, but it will give the same rights as the "green card" and is a "powerful path to obtain US citizenship." Trump said the federal government can sell 10 million "gold cards" to reduce the deficit.

The US budget deficit in March was US$160.5 billion, and the estimated deficit was US$145 billion.

The US budget deficit in March was US$160.5 billion, xm-links.compared with the deficit in the same period last year at US$236.6 billion. Revenue in March rose 10.7% year-on-year to $367.6 billion. Spending in March fell 7.1% year-on-year to $528.2 billion. The deficit so far in the fiscal year was $1.307 trillion, xm-links.compared with the deficit of $1.065 trillion in the same period last year. As of March, revenue so far in fiscal year was up 3.3%, and spending was up 9.7%.

Study shows that tariffs will cause an average loss of US households of US$4,400

On April 10 local time, local time, it was learned that a study released by the Yale University Budget Laboratory on the same day showed that tariffs will cause an average loss of US households of US$4,400. The overall average effective tariff rate faced by U.S. consumers is 25.3%, the highest since 1909, the researchers said. The report shows that in the long run, the US economy will continue to shrink by 0.6%, equivalent to a decrease of $160 billion per year. In addition, by the end of 2025, the unemployment rate will rise by 0.5 percentage points and the number of jobs will decrease by 700,000.

Yale University: Trump's suspension of tariffs has little effect on reducing the overall tariff rate

Yale University researchers said Thursday, US President Donald? Trump has lowered some of the high tariffs he had previously imposed, but it has little effect on lowering the average import tariff rate from the level pushed up by his series of tax measures. “The overall average effective tariff rate faced by consumers is 25.3%, the highest level since 1909,” said Yale University’s Budget Laboratory. "This is almost unchanged from the effective tax rate before the announcement of the suspension of tariffs late April 9. Even after the consumption structure changes, the average tariff rate will remain at 18.1%, the highest level since 1934." The Budget Laboratory said its estimates reflect the impact of all relevant taxes and foreign retaliation measures implemented by the United States through April 9 in 2025, including the revised tariffs on April 9.

EIA: OPEC+ oil-producing countries are expected to remain basically unchanged this year

EIA releases its short-term energy outlook report for April, which mentioned that although OPEC+ member countries are expected to start increasing production in April 2025, they believe that for most of the next two years, their output will be lower than the current target level, to limit the increase in global oil inventories and support oil prices. Estimated with the annual average of 2024Compared with OPEC+ oil-producing countries, crude oil production has remained basically unchanged this year, with daily production increasing by 500,000 barrels by 2026.

The shadow of tariffs shrouded long-term U.S. bonds 30-year Treasury bonds plummeted on the eve of the bid sale

The long-term U.S. bonds fell, and continued concerns surrounding market liquidity led to investors' anxiety before the bid sale of $22 billion 30-year Treasury bonds. With about an hour left before the U.S. bond bidding auction at 1 p.m. New York time on Thursday, the yield on the 30-year Treasury bond rose 12 basis points to 4.85%. This trend makes long-term U.S. bonds contrast sharply with the other end of the yield curve. Data shows that after the US basic inflation generally cooled down in March, the yield on two-year Treasury bonds fell by 10 basis points. “Short-term debt is rising, because the stock market restarts its decline,” said Ian Lyngen, head of U.S. interest rate strategy at BMO Capital Markets. He added that the 30-year Treasury bidding has put pressure on long-term Treasury bonds and people are still worried about demand.

Domestic News

Government-guided funds and state-owned assets injected more than 140 billion yuan of "live water" in March

Since this year, the private equity investment industry has shown signs of recovery, especially government-guided funds and state-owned assets have increased their investment efforts, injecting strong impetus into the market. Based on the statistics of the China Fund Association’s registered fund data and the National Enterprise Credit Information Disclosure System, LP Investment Advisors concluded that in March this year, the cumulative subscribing scale of government-guided funds and state-owned assets reached 143.69 billion yuan, an increase of 58.01% xm-links.compared with February (90.94 billion yuan). Wang Shuang, head of the research department of the Mother Fund Research Center, said that recently, funds led by state-owned assets have continued to increase their investment efforts, effectively alleviating the tight liquidity situation in the primary market. At the same time, the active entry of state-owned assets has enhanced the investment expectations of social capital and driven the inflow of funds such as insurance and banks. These funds jointly established funds as limited partners (LPs) with government-guided funds, which not only boosted confidence in the equity investment market, but also injected strong strength into technological innovation.

The above content is all about "[XM official website]: The shadow of tariffs covers long-term US bonds, the market reassessessses the impact of the suspension of tariffs, and the gold price hits a new historical high and approaches 3,200". It is carefully xm-links.compiled and edited by the editor of XM Forex. I hope it will be helpful to your transactions! Thanks for the support!

Share, just as simple as a gust of wind can bring refreshment, just as pure as a flower can bring fragrance. The dusty heart gradually opened, and I learned to share, sharing is actually so simple.