Ether falls to $2,572 amid jump in Treasury yields
Ether slid to a two-and-a-half week low, down 4.4% to $2,572, as long-term U.S. Treasury yields rose and risk appetite cooled.
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12:30:30 PM UTC
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The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day. 0829 ET - Ether falls to a two-and-a-half week low as surging long-term Treasury yields damp risk appetite. "With Treasury yields still elevated and bitcoin struggling to decisively break higher, investors have become more selective across crypto, and ether remains especially sensitive to shifts in liquidity because it tends to trade as a [more highly risk sensitive] digital asset," Zaye Capital Markets analyst Naeem Aslam says in a note. Meanwhile, institutional demand is weaker with U.S. spot ether exchange traded funds recently recording outflows, he says. Ether falls 4.4% to as low as $2,572, LSEG data show. (renae.dyer@wsj.com) 0821 ET - Pennon Group's fund raising highlights a worse asset health and operating position than the market realized, Bernstein's Bartlomiej Kubicki and Rory Graham-Watson write. The South West Water owner is calling on shareholders for 550 million pounds via a discounted rights issue, which will be used for operational performance improvements across the group and growth investments. "Today's announcement has raised questions about underlying asset condition, with management also casting doubt on previous 2028 environmental targets and declining to set out longer-term financial guidance," they write. Bernstein has a market-perform rating on the stock and 520 pence target price. Shares are down 20.5% at 359.20 pence, leading the FTSE 250 fallers and marking its lowest price in over 15 years. (ian.walker@wsj.com) 0817 ET - Anta Sports' closing of its stake acquisition in Puma came earlier than expected and seems positive for the German group's turnaround strategy, analysts at Bernstein write in a note. Anta has completed the acquisition of 29.06% of the shares in Puma from the Pinault family. The transaction was previously expected to close at the end of the year, the brokerage says. While Anta is now Puma's largest shareholder, it doesn't seem that the company plans to attempt to acquire complete control of the sports group, but instead to share capabilities with Puma, the analysts say. The move has two key benefits for Puma, including improved governance and incremental exposure to China, a core market for sports brands, they say. Shares in Puma are up 1.7%. (andrea.figueras@wsj.com) 0805 ET - Beauty companies should see sustained demand after a soft period, Bank of America Global Research analysts write in a note. Growth in the beauty market slowed throughout 2024 and into the first half of 2025, driven by weak demand trends in both the U.S. and China, the analysts say. Trends accelerated in the first six months of this year, with demand recovering back toward its long-term trajectory, they add. Beauty moved beyond blaming a weak economic landscape and instead using innovation, investments and other strategies to reignite demand, BofA says. (andrea.figueras@wsj.com) 0758 ET - Porsche's new medium-term re
12:55:12 PM UTC
SquawkNews
The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day. 0846 ET - Use of AI in Canadian organizations has risen more than eightfold in three years but governance is still catching up, says Chartered Professional Accountants of Canada. Its poll of 5,000 CPAs in the country found organizational AI use rose to 43% this year from 5% in 2023, and nearly three-quarters now use AI at least weekly in their professional work. Respondents also report AI is delivering tangible benefits. Still, the study finds that while 67% of CPAs report having access to approved AI tools for professional use, only 45% report a formal AI policy and just 34% say their organization has implemented either employee training or a formal AI strategy. (robb.stewart@wsj.com; @RobbMStewart) 0829 ET - Ether falls to a two-and-a-half week low as surging long-term Treasury yields damp risk appetite. "With Treasury yields still elevated and bitcoin struggling to decisively break higher, investors have become more selective across crypto, and ether remains especially sensitive to shifts in liquidity because it tends to trade as a [more highly risk sensitive] digital asset," Zaye Capital Markets analyst Naeem Aslam says in a note. Meanwhile, institutional demand is weaker with U.S. spot ether exchange traded funds recently recording outflows, he says. Ether falls 4.4% to as low as $2,572, LSEG data show. (renae.dyer@wsj.com) 0820 ET - The FOMC minutes will be closely examined as investors try to glean clues on the thinking of policymakers when they raised rates last month. BMO's Ian Lyngen says a common theme among investors before the Fed meeting was that Chairman Warsh needed to hike to maintain credibility, and not directly as a result of recent data. "The degree to which a similar 'credibility hike' framework was discussed on the Committee will be notable and imply that the forward path of hikes will be more gradual, consistent with the latest Williams comments," Lyngen says. He adds that he'll also watch for how the FOMC is viewing the balance of risks to its dual mandate, which may provide insight on its appetite to continue hiking "or whether the market could be justified in viewing September's move as truly a one-off hike." (patrick.sheridan@wsj.com) 0800 ET - Despite intensifying competition, European manufacturers shouldn't seek to cut off trade with China, Marion Muehlberger and Ursula Walther at Deutsche Bank in a note. Germany has shown an increasing willingness to use EU trade-defense tools to protect itself from intensifying Chinese competition, they say. "The preferred outcome is derisking rather than decoupling. Europe and China would continue trading and investing with one another, but with reduced strategic dependencies, greater reciprocity and better market access for European firms." Europe's priority should be restoring competitiveness through lower energy costs, faster permitting, infrastructure and
1229 GMT - Ether falls to a two-and-a-half week low as surging long-term Treasury yields dampen risk appetite. Zaye Capital Markets analyst Naeem Aslam says in a note that with Treasury yields still elevated and bitcoin struggling to decisively break higher, investors have become more selective across crypto, and ether remains especially sensitive to liquidity shifts because it tends to trade as a more highly risk sensitive digital asset. S. spot ether exchange traded funds recently recorded outflows.
4% to as low as $2,572. October 07, 2026 08:29 ET (12:29 GMT)