QCP Capital: It is expected that market volatility will continue before the negotiations between Trump and Canada-Mexico and the implementation of the EU tariff policy

ChainCatcher news, QCP Capital's latest analysis points out that the first round of trade policies from the Trump administration has triggered significant volatility in global markets. The yield curve for government bonds has entered a bear flattening phase—2-year yields are rising while 10-year yields are falling, indicating market concerns about short-term inflation and the long-term risks of the trade war on global economic growth.

The gold price spread between New York and London has widened, reflecting not only the closure of popular EFP arbitrage trades but also suggesting that the transfer of gold between different vaults may face logistical challenges, reminding the market of the uncertainty that tariffs may further expand.

The cryptocurrency market has experienced a severe sell-off. As a risk indicator before the opening of the U.S. market, the cryptocurrency market saw nearly $2 billion in liquidations, with ETH declining more than BTC. Analysts believe that today's risk-averse sentiment is primarily driven by cross-asset portfolio rebalancing rather than a single asset event. Market volatility is expected to continue ahead of negotiations between Trump and Canada/Mexico and the implementation of EU tariff policies.