Japan Market Daily | Kabutaro & Friends

On May 10, 2026, while major markets were closed for Sunday, significant movements in hard asset markets were driven by U.S. labor data and Middle East volatility. Global gold prices finished the week above 4,700 dollars per ounce, supported by resilient U.S. non-farm payroll growth of 115,000 despite weakening consumer sentiment and persistent inflation expectations. Geopolitically, tensions between the U.S. and Iran surged following reports of U.S. strikes on military targets near the Strait of Hormuz, casting doubt on a viable ceasefire. With shipping restricted or effectively blocked, Japan is prioritizing energy security through national reserve releases and diversifying crude oil sources from Australia and the U.S. In the financial sector, the U.S. dollar remained weak, while the 10-year Treasury yield hovered around 4.4 percent.