Stronger-than-expected US consumer sentiment data helped calm nerves on February 6, easing fears of an immediate economic slowdown. Bond markets briefly priced in slightly better odds of a near-term rate cut, softening financial conditions just enough to support risk assets.

Gold and silver rebounded alongside equities and crypto, suggesting the prior day’s drop was driven by liquidity stress rather than a fundamental shift in risk appetite.

Still, this looks like a relief rally, not a confirmed trend reversal. Volatility remains high, and markets are still highly sensitive to liquidity, rates, and capital flows.