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LME aluminum futures closed up by 16 USD, at 3,092 USD/ton. LME zinc futures closed down by 12 USD, at 3,487 USD/ton. LME lead futures closed up by 10 USD, at 1,876 USD/ton. LME nickel futures closed down by 105 USD, at 16,250 USD/ton. LME tin futures closed down by 672 USD, at 50,960 USD/ton. LME cobalt futures were flat, closing at 56,290 USD/ton.

On July 3, typically, a 30% rise in the Nasdaq 100 Index over three months would prompt investors to take profits. However, they are currently betting that this upward trend is just beginning. Demand for call options on the largest exchange-traded fund tracking the Nasdaq 100 is growing faster than the overall market, indicating that funds are rotating into AI and growth stocks. Data compiled by Citigroup shows that, according to one metric, the cost of call options on tech stocks relative to the S&P 500 Index is at its highest level since 2007. This pattern is not without risks, as concerns grow that the AI trades dominating market narratives for most of this year may be overheating. On Wednesday, the Nasdaq 100 Index fell 1.5%, underperforming the S&P 500 Index, which closed nearly flat, and on Thursday, the index again lagged behind the broader market. Brent Kachuba, founder of options platform Spot Gamma, commented on tech stock call options, stating, 'Traders are currently in an extremely bullish state.'

The yield on the two-year German Bund fell by 1.2 basis points to 2.5%. At 20:29 (UTC+8), it refreshed the daily high at 2.541%. It plunged when the nonfarm payrolls report was released, and at 23:21 (UTC+8), refreshed the daily low at 2.492%. The yield on the 30-year German Bund rose by 3.8 basis points to 3.489%, fluctuating at high levels and continuously trading around 3.490% since 16:00 (UTC+8). The yield spread between the 2-year and 10-year German Bunds rose by 3.701 basis points to +40.211 basis points, refreshing the daily high to +41.516 basis points at 21:37 (UTC+8). Expand