RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Trump, Xi Focus on Trade and AI at White House Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
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U.S. stocks ended mixed Friday, with the S&P 500 securing a two-week winning streak despite slipping 0.1% after reaching a record intraday high of 6,594.67. The Dow Jones Industrial Average dropped 273 points, or 0.6%, while the Nasdaq Composite gained 0.5%. Rising Treasury yields and weak consumer sentiment weighed on markets.
The University of Michigan Consumer Sentiment Index fell to 55.4 in September from 58.2, missing forecasts. While one-year inflation expectations held steady at 4.8%, five-year expectations rose to 3.9% from 3.5%, signaling persistent inflation concerns. Meanwhile, 10-year Treasury yields climbed 6 basis points to 4.07%, even as markets priced in a near-certain Federal Reserve rate cut next week. Futures traders anticipate a 25 basis point reduction, though a larger move remains possible.
Recent data added to expectations of monetary easing. Consumer prices posted the sharpest monthly gain since January, while jobless claims spiked to 263,000, the highest since 2021. Analysts suggest the Fed’s priority has shifted from inflation to stabilizing the weakening labor market.
Global fund flows reflected investor caution, with equity funds posting $3.06 billion in outflows—the first in five weeks. U.S. equity funds lost $10.44 billion, though European and Asian funds attracted $3.77 billion and $1.87 billion in inflows, respectively.
On the corporate front, Adobe (NASDAQ: ADBE) raised its annual outlook, citing robust demand for AI-driven creative software. Super Micro Computer (NASDAQ: SMCI) began volume shipments of Nvidia Blackwell Ultra solutions, while RH (NYSE: RH) missed revenue estimates. Microsoft (NASDAQ: MSFT) and OpenAI reached a non-binding agreement on the AI firm’s for-profit transition. New IPOs include Gemini Space Station, Black Rock Coffee Bar, Via Transportation, and Legence.
