Welcome to Markets Desk, your midday read on what's moving markets right now.
The dollar index climbed to a six-week high Tuesday as ten-year Treasury yields surged to a sixteen-month peak of four point six eight five percent. Higher yields are widening rate differentials in the dollar's favor, and the pressure is showing up clearly in gold, which sold off as the greenback strengthened and equity markets softened.
Shifting to soft commodities, arabica and robusta coffee both rallied sharply after a three-week selloff pushed prices deep into oversold territory. July arabica finished up more than two percent, with technical buying and fund short-covering driving the reversal as shrinking ICE inventories added fundamental support to what had been a purely momentum-driven decline.
Meanwhile, Astera Labs posted a notable gain after the connectivity company gave investors a firm timeline on a new switch product and laid out concrete revenue opportunities in optical networking. In an environment where the market is demanding clarity on AI infrastructure spending, that kind of specific forward guidance is carrying real weight with institutional buyers right now.
That's the tape. Markets Desk, signing off the floor.
