Trump, Xi Focus on Trade and AI at White House Summit 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Dollar Holds Near Two-Month High as Yen Approaches 160 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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Asian shares found firmer footing on Wednesday, supported by a recovery in U.S. markets and a pause in the global bond and cryptocurrency selloff that rattled investors earlier in the week. Bitcoin bounced back above the $90,000 mark, while Nasdaq and S&P 500 futures edged up 0.1%. MSCI’s Asia-Pacific index outside Japan gained 0.3%, and Japan’s Nikkeiadvanced 0.8%, reflecting improved sentiment across the region.
The earlier downturn was driven by renewed expectations of a potential Bank of Japan (BOJ) rate hike, which sparked heavy selling in global bond markets and deepened declines in major cryptocurrencies. According to Kerry Craig of J.P. Morgan Asset Management, narrowing yield spreads and yen movements revived concerns about strained carry trades and the unwinding of leveraged positions. He noted that crypto performance has often been viewed as a barometer of risk appetite, especially in periods of shifting liquidity.
Japanese government bonds remained under pressure as traders increased bets on a BOJ move later this month. The five-year JGB yield climbed to its highest level since 2008 at 1.38%, while the 40-year yield rose slightly to 3.695%.
With few immediate catalysts, investor attention has shifted back to the Federal Reserve, which is widely expected to cut rates next week. Analysts expect this anticipation to lift equities into mid-December, a period that has historically favored stock market rallies. Market optimism has also grown around the possibility of a more dovish Fed outlook, particularly with White House adviser Kevin Hassett seen as the top candidate to replace Jerome Powell.
The U.S. dollar weakened against major currencies, with the euro inching up to $1.1632 and sterling rising to $1.32235. The yen strengthened slightly to 155.77 per dollar, amid speculation about Fed leadership changes and concerns over monetary policy independence.
Elsewhere, the Australian dollar steadied after weaker-than-expected GDP data. In commodities, Brent crude hovered at $62.49, U.S. crude traded at $58.69, and gold ticked up to $4,216.13 an ounce as markets balanced geopolitical tensions with oversupply worries.
