Bitget Onchain Weekly Top 3 Gainers: ZKWASM, AIOT, neet

Jefferies has lowered the price target for Valero Energy (VLO.US) from $401 to $394.

(1) Japanese Prime Minister Sanae Takaichi stated that enhancing Japan’s global economic competitiveness will ultimately boost market confidence in the yen. (2) She defended her fiscal policies in response to concerns that the planned tax cuts might weaken support for the yen. (3) During a parliamentary session, she said: "Regarding our proactive and responsible fiscal policy, we believe that enhancing Japan’s global economic competitiveness will ultimately help maintain market confidence in the yen. This means we are taking a consistent policy approach."

JPMorgan has raised Pfizer's target price from $28 to $30.

Pacific Investment Management Company (Pimco) has issued a warning that the world’s most important bond market remains volatile due to high oil prices, inflation concerns, and the US’s massive public debt. The yield on the US 10-year Treasury is at risk of reaching 6% for the first time since 2000. Pimco's Chief Investment Officer, Dan Ivascyn, stated that after several weeks of heavy sell-offs in the $32 trillion US Treasury market, investors such as hedge funds may be forced to close losing bond positions, making a significant further rise in the 10-year Treasury yield from its current level of 5.29% a “possible scenario.” In recent weeks, other investors have issued similar warnings: a “vicious cycle” is forming in the US Treasury market. Successive waves of sell-offs are pushing yields to certain levels, which in turn is prompting other market participants like Real Estate Investment Trusts (REITs) to also sell off bonds.