Chris Becker

Asian share markets were doing well until US Treasury Secretary Bessent stuck his foot in his mouth calling on the BOJ to lift rates while local markets surged on a stronger than expected July unemployment print.

A staid night on the economic calendar with Wall Street closing at new record highs while European stocks played catchup as it seems the impact of US inflation is being discounted sharply by market players while the Fed continues to signal caution.

Asian share markets are generally boisterous in correlation with the equally euphoric Wall Street which was able to swing a higher domestic inflation print into an increased probability of an interest rate cut by the Federal Reserve in September.

Asian share markets are seeing a strong bid led by Japanese markets as they return from their long weekend with traders all waiting in anticipation of tonight’s US CPI print that is now becoming as important as the jobs print on the economic calendar.

Last night saw risk markets stumble due to a lack of economic catalysts as traders await tomorrow’s US CPI print to see how sticky the inflation from the Trump regime’s stupid tariffs are affecting US consumers and hence the trajectory of the US Federal Reserve.

Asian share markets are having a much better start to the trading week although Japanese markets are closed for yet another holiday as Bitcoin and other crypto currencies are seeing big bids.

Friday night saw most stock markets rise including the NASDAQ which put in another record high despite obvious concerns that asset prices are overextended, but traders are betting on forthcoming cuts from the Federal Reserve amongst others in the battle against the Trump regime’s tariffs.

Asian share markets are having a poor final session for the week although Japanese shares are seeing a big bid in response to tariff reversals while the latest BOJ meeting summary was met with appreciation.

Risk markets were unable to move much overnight as the latest US initial jobless claims came in slightly higher than expected (until revised by Sharpie by the Fanta Fuhrer) while a lot of Fedspeak around the slowing US economy led Wall Street to closed mixed at best.