27 October 2025
Gold’s decade-long rally now rivals the S&P 500 – Download Chart of the week
The Market Place – Download Market Data
- Softer inflation and upbeat tech earnings meant a renewed conviction in market pricing for Fed cuts, driving record equity highs and compression of risk premia.
- Stronger-than-expected retail and bank earnings pushed equity sentiment higher, but domestic growth risks and labour action keep the recovery uneven.
- A steady-policy ECB narrative and stronger risk appetite drove European equities higher, but bank consolidation and structural fragmentation remain an earnings headwind.
- Asian markets navigated optimism and caution with risk sentiment improving on US-China deal hopes, but China export data and regional credit stress kept volatility high.
