Market Recap • Week 23 2025

Highlights from the week of Jun 2 - 8, 2025

The equity market had a strong week on solid macro data out of both the EU and US while silver broke out.

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Equities

America

• 🇺🇸 S&P 500 gained 1.5% to close at 6,000 for the first time since the end of February. The index is now up by 2% for the year after having been down by more than 17% in early April.
• 🇺🇸 Nasdaq Composite rallied 2.18% this week to a new 3-month high and also flipped green for the year.
• 🇺🇸 Dow Jones Industrial rose 1.17% for the week.
• 🇺🇸 Russell 2000 jumped 3.19% this week.
• 🇨🇦 TSX gained 0.97% for the week to yet another all-time high.
• 🇲🇽 IPC eked out a 0.38% gain this week.
• 🇧🇷 Bovespa declined 0.67% but remains near record highs.
• 🇦🇷 Merval plummeted 5.36% for the week.

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Europe

• 🇪🇺 STOXX 600 rose 0.91% to its highest weekly close since the end of February, now up more than 9% for 2025 alone.
• 🇬🇧 FTSE 100 gained 0.75% to its highest-ever weekly close.
• 🇩🇪 DAX rose 1.28% this week to another all-time high. The DAX is up 22% in 2025 and more than 31% from the early-April bottom.
• 🇫🇷 CAC 40 gained 0.68% for the week.
• 🇩🇰 C25 rallied 2.84% this week, fueled by a +8% gain in Novo Nordisk.

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Asia

• 🇯🇵 Nikkei 225 declined by 0.59% this week.
• 🇨🇳 Hang Seng gained 2.16% to its highest weekly close since March after having been down 2.6% on Monday.
• 🇮🇳 Nifty 50 rose 1.02% this week and reclaimed the 25,000 level.
• 🇰🇷 KOSPI surged 4.24% to a new 10-month high.
• 🇹🇼 TSEC gained 1.47% for the week after having been down 1.8% on Monday.

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Currencies & Commodities

• The DXY inched down by 0.24% to 99.2.
• USD.EUR weakened by 0.39% to 0.878 EUR.
• USD.DKK fell 0.42% to 6.544 DKK.
• USD.GBP declined 0.54% this week.
• USD.JPY strengthened by 0.54% to 144.813 JPY.
• USD.CNH inched down by 0.28% for the week.
• Gold was up by 3.5% earlier in the week but closed with a modest 0.63% gain.
• Silver soared 9.07% to a new 13-year high around $36 per ounce.
• Copper gained 2.93% for the week.
• Bitcoin is down 0.8% to around $105,000 as of Saturday morning (CET) after rebounding from $100,400 on Thursday.
• The altcoin market is down 1.3% with Solana (SOL) as the biggest laggard.

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Bond yields

• 🇺🇸 The US 2-year rallied 3.51% and is back above a 4% yield.
• 🇺🇸 The US 10-year gained 2.5% to reclaim 4.5%.
• 🇺🇸 The US 30-year rose 0.85% and briefly topped 5% again intraweek.
• 🇪🇺 The Euro 2-year jumped 5.92% for the week to close at 1.88%.
• 🇪🇺 The Euro 10-year gained 3.16% for the week.
• 🇨🇳 The China 10-year inched down by 0.29% and remains near all-time lows.
• 🇨🇳 The China 30-year fell 1.1% for the week.

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Other

• The VIX fell 9.69% for the week to its lowest level since February.