Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Trump, Xi Focus on Trade and AI at White House Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
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Asian markets traded mixed as investors digested falling oil prices, rising commodity stocks, and heightened geopolitical tensions tied to Venezuela, China, and broader global uncertainty. Crude oil futures extended losses after U.S. President Donald Trump said Venezuela would hand over as much as 50 million barrels of oil to be sold at market prices following the capture of the country’s leader. The news weighed heavily on energy markets, pushing U.S. crude down 1.1% to $56.48 per barrel and Brent crude 0.8% lower at $60.22 per barrel.
Despite weaker oil prices, resource and commodity-related shares found support across the region, helped by a sharp overnight rally in industrial metals. Copper surged to a record high in the previous session, while nickel jumped more than 10% on supply concerns, boosting mining stocks, particularly in Australia. The S&P/ASX 200 index rose 0.3%, benefiting from its heavy exposure to commodity producers.
Broader equity markets were more cautious. MSCI’s Asia-Pacific index outside Japan slipped 0.2%, while Japan’s Nikkei fell 0.25%. Japanese stocks were pressured after China announced a ban on exports of dual-use items to Japan, escalating tensions following comments by Prime Minister Sanae Takaichi regarding Taiwan.
Currency markets reflected a cautious tone. The U.S. dollar held near recent highs, with the dollar index steady at 98.60, supported by global geopolitical risks and anticipation of key U.S. economic data. The euro traded at $1.169, while the yen weakened slightly to 156.73 per dollar. Investors are closely watching upcoming U.S. data, including the monthly jobs report, JOLTS survey, and ADP payrolls, for clues on the timing of potential Federal Reserve interest rate cuts, with markets currently pricing in two cuts this year.
Elsewhere, spot gold slipped 0.6% to $4,469.04 an ounce, while cryptocurrencies also declined, with bitcoin down 0.8% and ether easing 0.5%. European equity futures pointed to a mixed open, and U.S. stock futures were flat after Wall Street closed at record highs, brushing aside global tensions for now.
