US Treasury Secretary Scott Bessent’s bond-buyback push has offered only limited relief, with long-term Treasury yields rising again. Investors remain focused on the wider pressures driving borrowing costs higher, including the growing fiscal deficit, heavy government debt issuance, persistent inflation and uncertainty over Federal Reserve policy.
On Friday, Indian equity markets faltered after an initial upturn, influenced by rising Brent crude prices nearing $94 and increasing US bond yields. Contrarily, the midcap and smallcap indices displayed resilience, climbing into positive territory. Market analysts predict a stable trading environment as crude prices stay high, while the Nifty VIX falling below 11 suggests a reduction in volatility and a boost in investor confidence.
In FY26, small Indian traders suffered a staggering seventy percent of the losses in the futures and options market, while proprietary desks and foreign investors thrived with notable profits. Many individual traders faced dire financial setbacks from rapid declines in short-dated options. Meanwhile, institutional players leveraged sophisticated algorithms and trading techniques, exacerbating the inequity in the market landscape.
South Korean shares rose on Friday, led by gains in Samsung Electronics and SK Hynix after U.S. semiconductor stocks advanced, though the KOSPI remained on track for a weekly decline. Foreign investor inflows and a stronger won supported sentiment, while broader market weakness and rising bond yields kept investors cautious amid focus on monetary policy and financial-market risks.
HDFC Bank raised $1.75 billion through a twin bond sale to overseas investors. The lender raised $500 million via three-year bonds and $1.25 billion through five-year securities, both priced at tighter spreads than initial guidance, signalling strong investor demand.
Sugar stocks fell sharply on Friday after the government allowed duty-free imports of 1 million tonnes of raw sugar until October 31. Balrampur Chini Mills, Dhampur Sugar Mills and Bajaj Hindusthan Sugar declined sharply, reversing recent gains driven by rising sugar prices and tightening supply ahead of the festive season.
The BSE stock has witnessed a pronounced decrease in market value recently, attributed to the introduction of new auction regulations and diminished option trading activity. Additionally, the stricter bank guarantee requirements for brokers have raised alarm among investors. As a result, analysts have revised down their earnings expectations and stock projections, posing challenges for the exchange in maintaining its present valuation.
A US Treasury debt buyback decision lowered long-term yields, sparking a cross-asset rally across gold, equities, and Bitcoin. Coupled with a historic $1.1 billion short squeeze, the surge reflects macro liquidity moves rather than crypto-native triggers, making ETF inflows crucial for long-term sustainability.
Japan’s Nikkei fell on Friday and was headed for its steepest weekly decline in more than a month as rising oil prices, higher bond yields and uncertainty over the Middle East conflict weighed on investor sentiment. The Nikkei was set for a 4% weekly loss, while the Topix was headed for a 3.4% decline, with energy prices adding to inflation concerns.
Gold and silver prices rose for a third straight session on the MCX on Friday, supported by a weaker U.S. dollar and expectations of controlled longer-term Treasury yields. MCX silver surged Rs 13,000 over the past three sessions, while gold gained nearly Rs 6,500 per 10 grams. Analysts remained bullish, with key support and resistance levels in focus amid Fed rate uncertainty and geopolitical tensions.
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