Australian Strategic Materials (ASM) said its acquisition scheme has become effective, with shareholders set to receive 0.053 New Energy Fuels CDIs (or shares) and $0.13 cash per ASM share, while optionholders will receive $0.50 cash per option. ASM securities will be suspended from ASX trading after the close of 19 August 2026, with payment expected on 28 August 2026. Over the past 12 months, ASM shares have risen 109%, compared with a 1% rise in the All Ordinaries Index.

The US Treasury said it will at least double the maximum size of its long-dated bond buyback operations to at least $4 billion per operation starting September 9, pushing the dollar index DXY00 down to a 2.5-month low and ending the session off 0.80%. EUR/USD rose to a 2.5-month high, while USD/JPY fell 0.80%. Minutes from the latest Federal Reserve meeting leaned slightly hawkish, but failed to reverse the dollar’s decline.

Japan’s 30-year government bond yield climbed to an intraday 19-year high of 5.33% on Tuesday, underscoring market unease about fiscal policy. In the U.S., a $1.8 trillion fiscal-year deficit has pushed total government debt to nearly $40 trillion, while private investors’ share of Treasury holdings has risen to 73%. Japan, which imports about 90% of its energy, posted 1.1% year-on-year GDP growth in the second quarter versus an expected 2.0%. The short-term policy rate remains 1.0%, and the yen has fallen to a 40-year low against the U.S. dollar.

Australian gold miner Evolution Mining reported record results, with statutory profit after tax up 59% year on year to A$1,475 million and underlying EBITDA rising 44% to A$3,171 million on a 57% margin. Group cash flow climbed 76% to A$1,389 million, and the company lifted its final dividend to 21 cents per share, up 62%, taking the full-year payout to 41 cents per share. Net gearing fell to 0%, leaving the company with A$19 million in net cash.

Open interest in raw and refined sugar futures hit 2.3 million contracts on Friday, topping the previous high set in February 2010, ICE data show. An ICE executive said shifting supply-demand balances and a forecast for a strong El Niño through January 2027 have added uncertainty to supply expectations, prompting hedging across the curve. The U.S. Climate Prediction Center put the probability of a very strong El Niño at 90%, while funds recorded net inflows of a record US$2.5 billion into raw sugar contracts over the same period.

The U.S. 30-year Treasury yield rose above 5.33% this week, the highest level since 2007, while the 10-year yield climbed above 4.74%. Japan’s 10-year government bond yield is nearing 3%, a level last seen in 1996. Heavy AI-related bond issuance by big tech companies has added to upward pressure on yields. As long-end rates rise across major economies, borrowing costs are increasing and the risk of a repricing in high-risk assets such as Bitcoin is growing.

The LME copper cash premium narrowed sharply after about 20,000 tons arrived, pushing the cash-to-three-month spread from $545 a ton on Monday to $248. A U.S. Commerce Department recommendation on refined copper duties that was due June 30 has not been published, leaving a proposed 15% tariff for January 2027, rising to 30% in 2028, unresolved. Despite a rebound in inventories last week, on-warrant stock remains down roughly 75% from its mid-April peak.

U.S. bond yields have jumped as the war with Iran pushed up oil prices and revived investor worries about inflation and government deficits. The 10-year Treasury yield briefly topped 4.70% before slipping back to 4.65%, up from 3.97% before the conflict began in late February, while 30-year fixed mortgage rates climbed to near a one-year high. Longer-dated yields have also risen sharply, with the 30-year Treasury yield moving well above 5%. Uncertainty about the Federal Reserve’s next steps after Chair Kevin Warsh offered little guidance has added to the pressure at the long end of the curve.