Japanese Yen Rebounds as Trump Flags Currency Weakness 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Trump, Xi Focus on Trade and AI at White House Summit 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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Asian markets steadied on Tuesday as traders awaited an expected rate cut by Australia's central bank and key earnings from Chinese companies. The Australian dollar hovered near a two-month high, with markets pricing in an 89% chance of a 25-basis-point cut. Japan's Nikkei rose 0.3%, while S&P 500 futures gained 0.2% and European futures remained flat.
Overnight, Europe's STOXX 600 index climbed 0.5%, driven by a 4.6% surge in defense and aerospace stocks, reaching record levels due to increased defense spending amid the Ukraine conflict. Investors anticipate strong earnings growth in the sector, labeled a "supercycle" by analysts. European banks also rose 1%, hitting 17-year highs amid rising bond yields.
French President Emmanuel Macron hosted an emergency summit on Ukraine, while Britain expressed readiness to send peacekeeping troops. U.S. and Russian officials prepared for talks in Saudi Arabia, though Ukraine's President Zelenskiy rejected any decisions made without Ukraine's involvement.
Chinese markets rose after President Xi Jinping met with business leaders, though Baidu shares steadied after a previous slide. BHP shares rose 0.6% despite reporting its lowest first-half profit in six years, citing signs of China's economic recovery. Alibaba will report earnings later this week.
The euro hovered below $1.05, the yen was firm at 151.74, and the pound traded near a two-month high at $1.26033. Gold eased from record highs at $2,895 an ounce, while Brent crude held steady at $75.16. OPEC+ is considering delaying supply increases despite calls from former U.S. President Trump to lower prices. Key global business activity data and German elections are also in focus this week.
