March 26: Japan's two-year government bond yield rose to its highest level since 1996, driven by market expectations of central bank rate hikes. The ten-year JGB yield also increased, with rising oil prices fueling inflation expectations and reinforcing market expectations of monetary policy tightening by the central bank. Markets are pricing in a 64% probability of a rate hike in April.

Marshall Islands-based basic income project company M1X Global completed a $3 million fundraising round, with investors primarily being executives from the cryptocurrency and financial sectors. The funds will be used to develop the USDM1 digital sovereign bond, which will support local residents' participation in the UBI program. The bond is scheduled to launch on the Stellar blockchain in December 2025.

On March 23rd, gold prices fell 2%, approaching $4,400, marking a new low since the end of 2025, with selling wiping out nearly all gains from early 2026. The Iran war and oil crisis are impacting gold price movements, with rising crude oil prices exacerbating inflation, central banks maintaining interest rates or even hiking them, and rising bond yields weakening gold's appeal, while a stronger dollar suppresses demand. Insufficient speculative momentum is accelerating the selloff, with the market showing clear disagreement on the outlook. $4,300 serves as a key support level; a break below could trigger accelerated selling. Analysts predict gold could potentially return above $5,000, but market risks and external impacts warrant caution.

On March 23, the gold market experienced a sharp selloff, marking the worst weekly performance since 1983, prompting investors to reassess safe-haven assets. Analysis indicates that the gold price decline stemmed from concentrated liquidations, with market drivers shifting toward liquidity prioritization. Rising bond yields also triggered cross-asset selloffs, as institutional investors began rotating toward private markets and digital assets. The gold decline reflects changing asset pricing mechanisms in a liquidity-dominated environment.

Gate News, on March 19, gold prices recently broke below the $4,600 mark. Market analysts believe that the surge in U.S. Treasury yields (an indicator measuring bond investment returns) and the Federal Reserve's (the U.S. central bank) delayed interest rate cut expectations are the main factors putting pressure on precious metals prices.

Gate News report: On March 18, CoinShares announced a strategic partnership with Kiln to launch the first on-chain asset management strategy utilizing its Railnet protocol. The strategy combines DeFi protocol yields with tokenized real-world asset (RWA) yields, expanding to six different yield sources covering returns from DeFi lending protocols, institutional collateralized loans, tokenized bond funds and bond ETFs, as well as neutral basis strategies.

Hong Kong provides guidance for the bond market, promotes the application of tokenization technology, and explores electronic signatures and the electronicization of bearer bonds. Experts believe this is an important breakthrough in promoting the integration of digital currency and traditional finance, clarifying the legal validity of distributed ledgers and achieving the connection between traditional finance and digital assets.