The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

0234 GMT - A rate hike in Taiwan later this year is likely as inflationary pressure will seen to remain elevated over the summer, according to BofA Securities in a research note. The island's June consumer price index rose 2.6% on year, exceeding the consensus of 2.3%, it notes. "With inflation likely to remain elevated and services inflation sticky in the coming months, we think the risk around the next move is tilted toward tightening rather than an extended hold," it says. BofA expects a 12.5 bp hike at Taiwan's September policy meeting. (tracy.qu@wsj.com)

0128 GMT - Bitcoin falls 0.2% in early Asian trade. The cryptocurrency continues to face pressure from ETF outflows, which had the worst month on record in June, shedding $4.5 billion, Sygnum Bank's Can-Luca Koymen says. However, the investment strategist says its outlook is gradually improving. With oil falling back to pre-war levels, the Fed's hawkish stance has eased, supported by a softer U.S. job market report, he says. Long-term bitcoin holders have also returned to net accumulation. With the asset trading below its 200-day average, Sygnum Bank sees a lower likelihood of continued ETF outflows in July. (jason.chau@wsj.com)

0117 GMT - Asia-Pacific government bonds fall in price terms amid higher crude oil prices. The latest rise in oil prices "serves as a reminder that inflation risks, hawkish central bank expectations and terms-of-trade pressures can quickly re-emerge," two strategists of OCBC Group Research say in a research report. Oil prices have risen "amid renewed concerns over U.S.-Iran tensions after Washington revoked its waiver for Iranian oil sales following attacks on three vessels in the Strait of Hormuz," the strategists note. Yields on Australia's 10-year government bonds rose 6 bps to 4.8820%, New Zealand's 10-year sovereign debt climbed 8 bps to 4.5080%, and Japan's 10-year government bonds added 2.5 bps to 2.865%. (ronnie.harui@wsj.com)

0023 GMT - Japanese stocks are lower, weighed by renewed concerns about the Iran conflict and costs of energy prices. Chip and other electronics stocks are leading declines. Renesas Electronics is down 4.7% and Fanuc is 3.8% lower. The dollar is at 162.33 yen, compared with Y162.03 as of Tuesday's Tokyo stock market close. Investors are closely watching developments in the Middle East after the U.S. launched strikes on Iran and blocked its ability to sell oil legally. The Nikkei Stock Average is down 1.1% at 67486.10. (kosaku.narioka@wsj.com; @kosakunarioka)

0015 GMT - Asian currencies mostly weaken against the dollar in early trade amid renewed Middle East tensions. There have been "attacks on shipping in and around the Strait of Hormuz," CBA's Carol Kong says in a research report. This has "prompted the U.S. to revoke a waiver that allowed the sale of Iranian oil," the economist and currency strategist notes. "The war-driven energy price shock has increased the USD's safe-haven appeal," Kong adds. The U.S. dollar rises 0.3% to 1,519.10 won, edges 0.1% higher to 1.2931 Singapore dollar, and gains 0.2% to 33.39 baht, LSEG data show. (ronnie.harui@wsj.com)

0012 GMT - JGBs fall in early Tokyo trade, tracking overnight price declines in U.S. Treasurys. Both JGBs and Treasurys tend to move in tandem. JGB prices are also likely weighed by latest rise in crude oil prices, which could lead to higher inflation in Japan and a faster pace of BOJ rate increases. Meanwhile, Tuesday's strong 30-year auction failed to push JGB yields lower, Nomura's FX Research analysts say in commentary. "The government likely needs to provide clear guidance on market implications [of fiscal policy] to restore investor demand for long-term JGBs," they add. The 10-year JGB yield is up 1.5 bps at 2.855%, its highest intraday level since October 1996. (ronnie.harui@wsj.com)

2351 GMT - Japanese stocks may fall due to renewed concerns about the Iran conflict and costs of energy prices. Nikkei futures are down 1.5% to 67520 on the SGX. The dollar is at 162.28 yen, compared with Y162.03 as of Tuesday's Tokyo stock market close. Investors are focusing on developments in the Middle East after the U.S. launched strikes on Iran and blocked its ability to sell oil legally. The Nikkei Stock Average fell 2.1% to 68256.96 on Tuesday. (kosaku.narioka@wsj.com)

2258 GMT - The Reserve Bank of New Zealand is expected to announce a rise in the official cash rate by 25 basis points, to 2.50%, at 0400 GMT, but there's plenty of scope for a surprise hold. There's no shortage of economists expecting the central bank to remain on hold given the retreat in oil prices over the last month. On the other hand, the OCR could be as much as 100 basis points below the bank's estimation of neutral, so a hike can be justified given inflation is still above target. (james.glynn@wsj.com; @JamesGlynnWSJ)

2020 GMT - Treasury yields rise, with the selloff accelerating in late trade as the U.S. revokes the permission for Iran to sell its oil in global markets, in response to Iranian attacks on ships in Hormuz. Crude rises more than 5%, rekindling inflation fears that support bets on a Fed hike in coming months. U.S. consumers' year-ahead inflation expectations rise to its highest level in nearly three years, the New York Fed says. The 10-year yield adds 0.050 percentage point, to 4.529%, at the 3 p.m. ET settle, climbing further to 4.549% as oil futures rally, while the two-year reaches 4.185% after hours. (paulo.trevisani@wsj.com; @ptrevisani)

1934 GMT - Oil futures are sharply higher as the U.S. revokes Iran's license to sell oil in response to Iranian attacks on ships in the Strait of Hormuz. The lifting of sanctions on Iranian oil was part of an agreement reached last month that reopened the strait as the two sides negotiate a peace deal. The resumption in tanker transit through the strait had pushed oil prices back toward pre-conflict levels. WTI is up 5.3% at $72.20 a barrel and Brent rises 5.6% to $75.99. (anthony.harrup@wsj.com)

1917 GMT - Live cattle futures are in the process of a sizable losing streak. According to data from FactSet, most-active live cattle futures have finished lower for the past seven trading sessions, shedding roughly 3% of their value in that time. The streak is something not often seen for traders, with cattle finding its new all-time high earlier this year. Hot weather in crop-growing areas that's been supporting those futures may also, in turn, support cattle futures, as those kinds of temperatures are bad for cow pastures, ADM Investor Services says in a note. Live cattle closed down 0.3% to $2.3835 a pound, while lean hog futures closed down 1.6% to 96.925 cents a pound. (kirk.maltais@wsj.com)

1803 GMT - The share of Canada's U.S.-bound exports is trending lower. Scotiabank's Mitch Villeneuve and John Fanjoy note the proportion averaged 76% in 2024 and 72% in 2025, and came in at 70% in May 2026. The shift has been driven by a decline in most exports to the U.S. and increasing shipments to other regions, especially Europe. Canadian exports heading to the U.S. in May rose 1.5% on-month and were up 9.3% compared with 2024, following three straight months of growth driven by higher oil prices, Villeneuve and Fanjoy say. Exports to non-U.S. countries dropped 0.3% on-month, but were up 49.5% from 2024. On the import side, the share of Canadian imports from the U.S. has gradually fallen to 58% in May from an average of 62% in 2024, the pair say. (robb.stewart@wsj.com; @RobbMStewart)

(END) Dow Jones Newswires

July 07, 2026 22:34 ET (02:34 GMT)

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