Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
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Asian shares fell on Friday after the U.S. imposed steep tariffs on dozens of trading partners, heightening market uncertainty ahead of crucial U.S. jobs data that could determine the Federal Reserve’s next interest rate move.
President Donald Trump signed an executive order late Thursday implementing tariffs of 10% to 41% on imports from multiple countries. India faces 25%, Taiwan 20%, Thailand 19%, and South Korea 15%. Tariffs on Canadian goods rose to 35% from 25% for items not covered by the U.S.-Mexico-Canada trade pact, while Mexico received a 90-day exemption to negotiate a broader deal. Taiwan’s President Lai Ching-te described the tariffs as temporary and expected reductions once agreements are reached.
MSCI’s Asia-Pacific index outside Japan dropped 0.7%, extending weekly losses to 1.8%. South Korea’s KOSPI plunged 3%, Taiwan’s benchmark slipped 0.9%, Japan’s Nikkei declined 0.4%, while China’s blue chips were flat and Hong Kong’s Hang Seng edged up 0.2%.
European and U.S. futures also weakened, with EUROSTOXX 50, Nasdaq, and S&P 500 futures down 0.2%. Wall Street retreated overnight after Amazon reported disappointing earnings, sinking 6.6% after hours, while Apple gained 2.4% on stronger-than-expected revenue guidance.
Investors are closely watching July’s U.S. nonfarm payrolls, expected to rise by 110,000, with unemployment seen at 4.2%. A stronger-than-expected report could reduce chances of a September Fed rate cut, now priced at 39%, down from 65% earlier this week.
The dollar index climbed 2.5% this week to a two-month high of 100.1, while the yen weakened to 150.7 per dollar. U.S. Treasury yields held steady, oil prices hovered near $70, and gold traded around $3,286 an ounce.
