The yen rose the most in almost two weeks after US Treasury Secretary Scott Bessent said he expected Japan to raise interest rates to tame inflation. Asian stocks declined after a three-day rally. Japan’s currency advanced as much as 0.7% versus the dollar as Bessent said the Bank of Japan is falling behind the curve in addressing inflation and he expected it to hike rates. A gauge of the dollar fell for a third day as Bessent also pushed for the Federal Reserve to ease policy. Other Asian currencies such as the Indonesian rupiah and Malaysian ringgit also strengthened. The stronger yen sent the Nikkei-225 Stock Average down 1.4%, dragging the region’s equity gauge lower. Technology shares declined while Chinese indexes advanced. Bitcoin reached an all-time high and gold edged up. Equity-index futures for the US dipped 0.1%. Bessent’s remarks on the BOJ stand out as a rare instance of admonishing policy decisions by a foreign central bank. In an interview with Bloomberg Surveillance Wednesday, he also added to the external pressure on the Fed by making his most explicit demand yet for US policymakers to execute a cycle of cuts. Bessent — who suggested the Fed’s benchmark rate ought to be at least 1.5 percentage points lower than it is now — said officials might have cut rates if they’d been aware of the revised data on the labor market that came out a couple of days after the latest meeting. The Fed’s Open Market Committee last month led by Chair Jerome Powell kept its benchmark in a target range of 4.25% to 4.5%. A report on producer prices due Thursday will offer insights on additional categories that feed directly into the Fed’s preferred price gauge — which is scheduled for later this month. On Japan, Bessent said the BOJ is going to be hiking rates as the country needs to get “inflation problem under control.” In the latest Bloomberg survey of economists watching the BOJ, around 42% of respondents said they expected a hike in October, with a third expecting a move in January. The BOJ is expected to stand pat when it next sets policy on Sept. 19. Meanwhile, President Donald Trump, who has also criticized the Fed for not easing rates, said he may name the next central bank chair “a little bit early” and added that he was down to three or four potential candidates as he looks for a successor to Powell. In Asia, technology shares dragged with MSCI’s technology index falling 1.3%. Taiwan Semiconductor Manufacturing Co. and SK Hynix Inc. led chip shares lower while Tencent Holdings gained after its results beat estimates. Elsewhere, geopolitical tensions remained on edge after the US president warned he would impose “very severe consequences” if Vladimir Putin didn’t agree to a ceasefire agreement later this week, following a call with European leaders ahead of his meeting with the Russian president. US After Hours CSCO +0.8% ticks higher on earnings; DLO +21.1% also higher on earnings; IBTA -21.6%, NOA -16.4%, COHR -16.1% lower on earnings
Nikkei -1.33% Hang Seng -0.41% CSI +0.25% Shanghai -0.09% Shenzen -0.73%
Eur$ 1.1704 CNH 7.1723 CNY 7.1718 JPY 146.40 GBP 1.3577 CHF 0.8052 RUB 79.5746 TRY 40.7775 WTI$ 62.90 +0.38% Gold 3,360 +0.15% BTC 123,124 +0.14% ETH 4,754 +0.80%
S&P -0.16% Nasdaq -0.18% EuroStoxx -0.19% FTSE +0.05% Dax -0.16% SMI -0.04%
Macro :
- Bitcoin Rises to Record as Investors Snap Up Riskier Assets
- DeepSeek’s New AI Model Launch Delayed by Chip Issues: FT
- Tariff Confusion Drives Record Volumes at Los Angeles Port
13 Filings :
- Baupost Buys Fiserv, Boosts Alphabet: 13F
Keep an eye on :
Keep an eye on :
- ADYEN NA : Adyen 1H Net Rev. Misses Est., Walks Back Growth Outlook
- ANTO LN : Antofagasta 1H Ebitda Beats Estimates
- AAPL US : Apple’s AI Push to Hinge on Robots, Lifelike Siri, Home Security
- AUTO NO : Autostore 2Q Adjusted Ebitda Beats Estimates
- AUTO NO : Autostore 2Q Adjusted Ebitda Beats Estimates
- BIDU US : Baidu Eyes Self-Driving Car Tests in HK Old Airport Area: Daily
- GBF GY : Bilfinger 2Q Sales EU1.35B Vs. EU1.30B Y/y
- BA US : Boeing Defense Union Asks Lawmakers to Intervene in Strike
- BORR US : Borr Drilling Sees FY Adjusted Ebitda About $470M, Est. $466.3M
- BLSH US : Bullish IPO Mints Two Billionaires at Thiel-Backed Crypto Firm *BULLISH SHARES CLOSE HIGHER BY 84% IN TRADING DEBUT
- CARLB DC : *CARLSBERG SEES FY ORGANIC OPER PROFIT +3% TO +5%, EST. +3.98%
- CNA LN : Centrica Frontrunner to Buy National Grid’s LNG Terminal: FT
- CWC GY : Cewe Stiftung 2Q Ebit Loss EU4.0M Vs. Loss EU2.9M Y/y
- CSCO US :
- DNB NO : Norway Enacts EEA Rules on Changes to Net Stable Funding Ratio
- EDPL PL : EDP Renovaveis Sells Stake in Italian Solar Portfolio to Encavis
- EMBRACB SS : Embracer 1Q Net Sales SEK3.36B
- ECV GY : EDP Renovaveis Sells Stake in Italian Solar Portfolio to Encavis
- FAST NA : Fastned 1H Oper Ebitda EU17.9M Vs. EU14.7M Y/y
- HLAG GY : Hapag-Lloyd Narrows FY Ebitda Forecast
- GLJ GY : Grenke 2Q Net Income EU16.0M Vs. EU25.2M Y/y
- HHFA GY : Hamburger Hafen Narrows FY Ebit Forecast
- HBI US : Gildan to Buy Underwear Maker Hanesbrands for $2.2 Billion
- HFG GY : HelloFresh 2Q Revenue Misses Estimates
- HEX NO : Hexagon Composites 2Q Ebitda Misses Estimates
- HOLMB SS : Holmen 2Q Net Sales Miss Estimates
- IBTA US : *IBOTTA SHARES SINK 23% POSTMARKET AFTER REVENUE MISSES ESTIMATE
- ITM LN : ITM Power FY Revenue Beats Estimates
- KESKOB FH : Kesko July Comparable Sales +5.4%
- LXS GY : Lanxess 2Q Sales Miss Estimates, Lanxess Cuts FY Adjusted Ebitda Forecast
- 992 HK : Lenovo Shares Fall As 1Q Result Beat; Cloud Loss May Hurt Margin
- HLUNB DC : Lundbeck 2Q Revenue Matches Estimates
- MANTA FH : Mandatum 2Q Pretax Profit Misses Estimates
- MB IM : Mediobanca Rebuffs Caltagirone Criticism of Banca Generali Deal
- MEKKO FH : Marimekko 2Q Adjusted EPS Misses Estimates
- META US : Meta’s Map Feature Is Dangerous for Children, Blumenthal Says
- MLP GY : MLP 1H Ebit EU42.7M Vs. EU48.7M Y/y
- AERO SW : Montana Aerospace 1H Net Sales Meet Estimates
- NETC DC : Netcompany 2Q Revenue Matches Estimates, Netcompany to Initiate Share Buyback Program of up to DKK500M
- NFLSK DC : Nilfisk 2Q Revenue Meets Estimates
- DNORD DC : Norden 2Q Ebit $59.5M
- ORSTED DC : Danish Deputy Prime Minister Regrets Not Selling Orsted: Borsen
- PEAN SW : Peach Property to Get €410M new Financing From Castlelake
- PAH3 GY : Porsche in Talks to Co-Anchor €500 Million Europe Defense Fund
- PRTC LN : PureTech Health Says Phase 2 VE202 Trial Didn’t Meet Endpoint
- RNK LN : Rank Group FY Adjusted EPS Beats Estimates
- RWE GY : RWE Earnings Drop on Weaker Trading, Power Generation Results RWE Maintains FY Adjusted Ebitda Forecast
- SAN FP : Sanofi’s Rilzabrutinib Gets Orphan Designation in EU
- SIP BB : Sipef 1H Palm Oil Output 208k Metric Tons Vs. 175k Y/y
- SHUR BB : Shurgard 2Q Property Operating Revenue EU111.5M Vs. EU95.9M Y/y
- SQN SW : Swissquote Sees FY Net Revenue CHF700M, Saw CHF675M
- SREN SW : Swiss Re 1H Net Income Beats Estimates
- TLX GY : Talanx FY Net Income Forecast Beats Estimates
- 700 HK : Tencent Rises as AI Spurs Fastest Growth Since 2021: Street Wrap
- TSLA US : Tesla Hints at NYC Ride-Hailing With New Autopilot Job Posting
- TKA GY : Thyssen Cuts FY Sales Outlook, Specifies FY Adj. Ebit Guidance
- UBSG SW : UBS Set to Miss Job Cut Target After Credit Suisse Takeover: FT
- UBSG SW : UBS Set to Miss Job Cut Target After Credit Suisse Takeover: FT
- VEI NO : Veidekke 2Q Revenue Beats Estimates
- WAC GY : Wacker Neuson 1H Ebit EU56.1M Vs. EU83.8M Y/y
- ZEAL DC : Zealand Pharma 2Q Revenue Beats Estimates
- ZVRA US : Zevra Falls Most Since 2023 Amid Olpruva Headwinds: Street Wrap
- FHZN SW : Zurich Airport July Passenger Traffic +4.8%