📰 Hourly Briefing | 2026-08-10 10:00 CST
Treasury Secretary Bessent makes multiple moves to ease bond market pressure, seen as rescue signal by Wall Street; Iran replaces top security official with hardline Revolutionary Guard veteran; WTI crude oil rises 2.2% to $78 as Hormuz Strait tensions escalate.
📊 Market Snapshot
| Asset | Latest | Change |
|---|---|---|
| Gold (XAUUSD) | 4,322.71 | -0.42% |
| WTI Crude (USOIL) | 78.04 | +2.21% |
Gold pulled back slightly, briefly dropping below $4,330, but remains in a high range. Crude oil strengthened notably, with WTI up over 2% above $78, driven by Middle East geopolitical risks and Hormuz Strait tensions.
Asian markets broadly higher: Nikkei 225 +2.00%, Taiwan Weighted +1.09%, Hang Seng +0.53%, Shanghai Composite +0.10%. RMB midpoint rate at 6.7884, strongest since February 2023.
🔥 Key News This Hour
1. Bessent Makes Multiple Moves to Ease Bond Market Pressure
Facing surging long-term Treasury yields and rising financing costs, Treasury Secretary Bessent has been active recently—supporting yen intervention, adjusting bond issuance language, and backing Warsh. Wall Street interprets these as Treasury sending a “rescue the bond market” signal.
2. Wall Street Analyst: CPI Data Lagging, Fed Tilting Toward Rate Cuts
Institutions note that current elevated US CPI is due to outdated statistical methods that haven’t yet reflected recent price cooling. The analyst believes the Fed’s hiking cycle is over, and Warsh’s policy lean could drive a rate-cut path.
3. Iran Replaces Top Security Official—Hardline Veteran Takes Over
Iran suddenly changed the head of its Supreme National Security Council while nearing an arrangement with Oman to reopen the Hormuz Strait. The new secretary, Mohsen Rezaei, previously led the Revolutionary Guard for an extended period and is considered a hardliner. The timing is sensitive and warrants attention.
4. Houthi Attack on Mokha Port Kills 7, Wounds 30
Yemeni military reports Houthi forces attacked Mokha port, killing 7 and wounding 30. The military successfully intercepted and shot down 11 drones involved in the attack. Situation remains tense.
5. China July CPI +0.5% YoY; PBoC Extends Gold-Buying Streak to 21 Months
National Bureau of Statistics reports July CPI up 0.5% YoY, with PPI inflation easing. The People’s Bank of China has purchased gold for 21 consecutive months. Beijing’s July CPI turned positive month-over-month.
🧭 Situation Assessment
The US Treasury yield issue is evolving from market anxiety into policy action—Bessent’s multiple moves signal Treasury awareness of the risk, but whether they can effectively push down long-end rates remains to be seen.
Iran’s security leadership change comes at a delicate time—installing a hardliner while Hormuz Strait reopening negotiations near completion could add uncertainty and support crude oil prices.
Middle East geopolitical risk continues to escalate—Houthi attacks on Mokha port causing casualties, combined with Hormuz Strait issues, is the direct catalyst for today’s 2%+ oil rally.
RMB continues strengthening to its highest since February 2023—the PBoC’s sustained gold purchases combined with modest CPI recovery support risk appetite on the macro front.
Watch for this week’s US July Conference Board Employment Trend Index (tonight 22:00 CST) and 3-month/6-month T-bill auctions (23:30), with NFIB Small Business Confidence and existing home sales data due tomorrow.
⏰ Upcoming Key Data
- Today 16:30 🇪🇺 Eurozone August Sentix Investor Confidence (Expected -0.5, Previous -3.1)
- Today 22:00 🇺🇸 US July Conference Board Employment Trend Index (Previous 106.69)
- Today 23:30 🇺🇸 3-Month / 6-Month T-Bill Auctions
- Tomorrow 12:30 🇦🇺 RBA Interest Rate Decision (Expected 4.35%)
- Tomorrow 18:00 🇺🇸 US July NFIB Small Business Confidence Index
- Tomorrow 22:00 🇺🇸 US July Existing Home Sales Annualized (Expected 4.04M)