Mitsubishi UFJ analyst Lee Hardman said recent negative developments in the eurozone have increased sterling's appeal versus the euro. He noted UK fiscal concerns have pushed 10-year Gilt yields to their highest level since before the 2007 global financial crisis, but that the UK's fiscal position is not as severe as France's. Media reports say the UK government will seek in its Oct. 28 budget to reduce measures that could provoke a negative market reaction amid a challenging global bond backdro

The $39 billion 10‑year Treasury auction drew strong demand and was awarded at a 5.30% yield, below traders' pre-auction expectations. BMO said dealers required to bid at auctions received unusually low allocations, signaling outsized demand from non‑dealer investors. U.S. Treasury yields had jumped before the U.S. session but have given back most of those gains as oil prices retreated, and eased further from intraday highs after the auction.

The Trump administration's U.S. Department of Housing and Urban Development has opened an investigation into Wells Fargo's housing initiatives launched over the past decade to raise Black homeownership. HUD sent a letter to CEO Charlie Scharf on Wednesday asking whether the bank violated fair-lending laws by favoring Black or other minority borrowers. The inquiry signals the administration is re-examining corporate programs introduced under prior government or ESG-focused investor encouragement.