TODAY'S MARKET INTELLIGENCE
Aug 20 Dual Drivers from Middle East Geopolitics and Treasury Buybacks: Oil and Gold Supported
English summary
On Thursday (August 20), Middle East geopolitical tensions and expanded U.S. Treasury buybacks dominated markets. Hormuz navigation restrictions and a tanker hijacking in the Gulf of Aden kept crude risk premiums high; the U.S. Treasury doubled long-term bond buybacks, pressuring yields and the dollar, supporting gold and silver. UK factory orders hit a recent high.
The English text is machine translated and may require verification against the Chinese version.
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