Piper Sandler Raises Tesla Target Price to $475

BNP Paribas Asset Management has increased its holdings in 20- to 30-year Japanese government bonds, with hedged yields reaching as high as 6.5%. Combined with a stabilized yen and the return of domestic insurance funds, long-term bonds have become the new favorite for global capital.

The outlook for AI trading is being reassessed, reshaping global asset allocation. Stock market pressure is prompting investors to flock to safe-haven assets such as US Treasuries, yen, and Swiss franc. The 30-year US Treasury yield hit 5.38%, the lowest level since September 23. The yen appreciated 0.3% against the US dollar to 157.68, and the Swiss franc rose 0.2%. Safe-haven buying emerged as oil prices surged due to an attack in Saudi Arabia. The future direction will depend on which theme dominates: inflationary pressures or a cooling in AI trading.

The sell-off in tech stocks has dampened risk appetite, leading to a decline in copper prices.