Japan's real wages surged 1.9% year-over-year, marking the longest streak of gains in nearly two and a half years. The robust wage growth bolsters expectations for a 25-basis-point rate hike by the Bank of Japan at its upcoming June policy meeting.
Despite a 73.6 billion dollar forex intervention by Japan Ministry of Finance, the yen real effective exchange rate dropped to its lowest since 1973 due to persistent interest rate differentials and structural economic challenges.
The Japanese yen fell back to the key 160 per dollar level on Wednesday, erasing all gains from the previous 11.7 trillion yen intervention. Geopolitical conflicts in the Middle East boosted USD demand, while PM Sanae Takaichi issued verbal warnings…
US job openings unexpectedly rose to 7.618 million in April while Fed's Hammack hinted at potential rate hikes due to inflation pressures. Geopolitical uncertainties in the Middle East drove oil price volatility, leading US Treasury yields slightly…
US Treasury yields individual tenors advanced in Asian trading as renewed geopolitical tensions in the Middle East drove oil prices higher, exacerbating global inflation concerns. Investors now eye key US PCE inflation data for clues on the Federal…
The Bank of Japan announced its FY2025 financial results on Wednesday, revealing a 9.1% YoY decline in total assets driven by reduced government bond holdings. This contraction marks a significant step forward in monetary policy normalization and bal
Japanese government bond yields rose across the board on Tuesday, with the 10-year yield reaching 2.720%. While Prime Minister Sanae Takaichi clarified that the supplementary budget would not increase net market issuance, rising oil prices from Middl
Driven by fiscal deficits and inflation, US Treasury yields have climbed. Investors are turning to high-grade corporate bonds like Apple and Microsoft, narrowing credit spreads to historic lows.
Spot gold rose over 1 percent to 4559.07 dollars on Monday as optimism over US-Iran peace talks depressed the dollar and crude oil. However, gains remain capped by Fed rate hike expectations and technical resistance at 4650 dollars.
Eurozone government bond yields declined significantly as optimism over a US Iran agreement to reopen the Strait of Hormuz led to a drop in oil prices, easing inflation fears and softening ECB rate hike bets.
The 10-year German Bund yield climbed to 3.191%, a high not seen since 2011, alongside rising US Treasury yields. Although geopolitical easing signals brought Brent crude down slightly to $110, persistently high energy premiums are forcing markets to
Overseas investors net sold 81.3 billion yen of Japanese super-long government bonds in April, the first net outflow since Dec 2024. Amid inflation and fiscal expansion fears, the 30-year JGB yield touched its highest level since 1999. Although domes
HSBC, Deutsche Bank, and Goldman Sachs have raised their Chinese Yuan forecasts as of May 18. The currency has gained nearly 3% YTD, supported by competitive exports and stable trade ties.
Facing depreciation pressure on the Won from a $20 billion direct investment in the US, South Korean President Lee Jae-myung proposed a bilateral currency swap to US Treasury Secretary Scott Bessent. The US hinted at further discussions between incom
CFETS data shows the RMB exchange rate index rose to 100.1, the highest since April 30. Weighed by EUR and JPY weakness against the Yuan, the basket has gained over 2% YTD, reflecting solid macroeconomic support and effective counter-cyclical managem
Driven by a 50% oil price rally amid the Iran conflict and persistent foreign outflows, USD/INR hovers near record lows of 95.7950. Traders anticipate RBI dollar-selling intervention to stem currency depreciation.
Amid strong US inflation and a widening yield gap, the USD/CNY spot rate edged up to around 6.79 in early trade. Markets expect the upcoming US-China summit to ease trade tensions, supporting a stable yuan while long-end swaps drop to a 9-month low.
Lacking new catalysts in Asian trading, USD/JPY consolidated narrowly between 157.56-78. The 158.00 intervention red line and massive option expiries capped upside potential, while AUD/JPY showed strength among crosses.
The Taiwan Dollar depreciated sharply in late trading driven by aggressive foreign capital outflows. Exporter dollar sales and central bank intervention cushioned the fall. Markets are focused on upcoming Sino-US talks and Asian FX trends.
Eurozone sovereign bonds faced a sell-off as prolonged US-Iran conflict concerns drove Brent crude higher. German and Italian benchmark yields rose significantly, with markets fully pricing in two 25 bps rate hikes by the ECB before September.
Driven by US-Iran geopolitical tensions, Brent crude stabilized above $110, pushing German 2-year bond yields higher. Meanwhile, UK gilts rallied after digesting local election impacts, and markets now price a 57% probability of an ECB rate hold in J
Based on BOJ current account data, the MOF likely spent around 8.65 trillion yen on FX intervention during the holidays. As the yen's rally to 155 fades, market focus shifts back to the US-Japan yield spread and the 160 threshold.
Driven by Taiwan's equities draining liquidity and impending May tax payments, banks face reserve shortfalls. Interbank rates hit 1.30%, while non-guaranteed short-term bills attract funds with high rates, crowding out secondary markets.
Post-month-end commercial paper discount rates slightly rebounded to around 0.73%. Rebound room remains limited due to weak credit demand. The PBOC is reducing long-term liquidity to correct excessive easing.
Fed custody data shows an $8.7B drop in foreign-held US Treasuries, aligning with Japan's FX intervention. If Japan normalizes selling Treasuries to prop up the Yen, a $70B supply imbalance could surge yields.
The BOJ and MOF demonstrate rare policy alignment, curbing yen depreciation through hawkish signaling and a 10 trillion yen intervention. Markets are closely watching US Treasury Secretary Bessent's visit and the BOJ's June rate decision.
As the US and Iran near a peace memorandum, oil prices plummeted over 7%, easing inflation fears and weighing on the dollar. Spot gold surged by $133 to top $4690, with markets now pivoting to the upcoming NFP data.
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