Precious metals, especially gold and silver, have seen strong performance with gold hitting record highs above 3500; driven by bond market jitters, inflation concerns, and central bank buying.

There is a substantial move in the long-end yields, with sharp increases in the 10-year yields in Europe; the bond market is nervous, particularly in the UK and France; yields reached levels not seen since 2011; this reflects a reevaluation of government spending and inflation risk.