Treasury Secretary Scott Bessent announced on Wednesday an expansion of his department’s debt buyback program, but this unusual move was met with disappointment. The initial expanded buyback amount announced proved insufficient to halt market declines. The Treasury plans to purchase up to $6 billion in long-term bonds—triple the amount planned last month—but this fell short […]
Treasury Secretary Scott Bessent has challenged traders to test his determination to strengthen the yen. He said that when he makes market predictions today, he is effectively acting on inside information. “I’m the house now, so when we intervene in the yen exchange rate, I have a very clear understanding of what the Japanese, the […]
Copper prices surged at the London Metal Exchange (LME) for several consecutive weeks, reaching a new all-time high, driven by expectations that U.S. President Donald Trump would expand tariffs on refined metal imports. The LME’s three-month benchmark futures price rose as much as 0.8%, hitting $14,533 per ton—surpassing the previous record set in January—before easing […]
Over the past week, tensions between the U.S. and Iran have intensified, sparking market concerns over further disruptions in energy transit through the Strait of Hormuz and driving up oil futures prices. Following Iran’s weekend claim that it attacked three vessels that had entered designated shipping lanes without authorization, as well as three ships linked […]
U.S. job growth in August was robust and the unemployment rate remained stable, indicating a more vibrant labor market than previously expected. According to data released Friday by the U.S. Bureau of Labor Statistics, nonfarm employment rose by 162,000 in August, while July’s unemployment figures were revised to zero. The report shows the labor market […]
As government bond yields climb, mortgage rates in the United States have surged to their highest level in over a year, delivering another blow to the domestic housing market. Freddie Mac said Thursday that the average rate for 30-year fixed-rate mortgages rose from 6.66% the previous week to 6.71%. A year ago, the rate stood […]
Some of the largest U.S. asset holders have little protection against a weakening dollar, leaving the currency vulnerable to sharper declines if market sentiment shifts abruptly. As of June 30, investors in markets including Japan, Canada, and Taiwan had hedged only 41% of their foreign exchange risk exposure—the lowest level since at least 2015. By […]
Escalating attacks in the Middle East and growing inflation concerns have intensified market expectations of interest rate increases, pushing bond yields higher. Market odds for a Federal Reserve rate hike at its September meeting have now risen to around 67%. On Tuesday, the United States launched a new round of airstrikes targeting sites in Iran, […]
The White House, under President Donald Trump, called it “the largest oil deal in history”: the United States has reached an agreement with Venezuela to gain control over more than 65 billion barrels of the country’s crude reserves. According to a fact sheet released by the White House on Monday, this agreement—despite criticism from Venezuela’s […]
The United States and Iran have clashed for the first time in nearly a month, with U.S. forces striking Iranian rocket launchers and Iran retaliating by launching missiles toward Jordan. Colonel Tim Hawkins, spokesperson for U.S. Central Command, said Sunday that Iran was preparing to fire rockets carrying mines into the Strait of Hormuz. He […]