The euro gained 0.2%, while defense stocks soared amid expectations of increased European military spending. The Stoxx 600 index saw limited movement, but BAE Systems jumped 13%, Rheinmetall AG rose 16%, and Saab AB added 11%.
📉 Bitcoin Retreats
Bitcoin fell after a weekend rally driven by Donald Trump’s comments on a strategic crypto reserve.
🌍 Geopolitical Risks Drive Markets
- European leaders formed a “coalition of the willing” to support Ukraine, following a dispute between Trump and Zelenskiy.
- China’s major political gathering coincides with looming US tariffs that could strain its economy.
📉 Bond & Trade Concerns
- German and French bonds declined amid debt issuance concerns.
- S&P Global Ratings placed France on a negative outlook.
- US 10-year Treasury yields rose three basis points.
- Markets await potential US tariff hikes on China, Canada, and Mexico, set for Tuesday, impacting $1.5 trillion in trade.
🛢️ Oil & Gold Rise
- Oil prices climbed as tensions suggest prolonged sanctions.
- Gold gained, reflecting investor demand for safe-haven assets.