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

2030 ET - The Australian Bureau of Statistics will republish its monthly inflation data for January on Friday, after finding a problem with how some elements of the report were measured. None of the headline CPI figures are affected, the ABS says. This includes the headline measure of inflation, trimmed mean, indexes and index movements, it adds. Still, it's a good bet that economists will sift through the republished report to see if concerns about sticky inflation remain justified. Market pricing for a May interest-rate increase rose after the data was published on Wednesday. (james.glynn@wsj.com; X @JamesGlynnWSJ)

2011 ET - The Bank of Thailand is expected to leave its policy rate unchanged at 1.00% from now and throughout 2027 to preserve policy space amid rising uncertainty, J.P.Morgan economists write in a note. The policy statement's tone suggests that the bar for further rate cuts is high, and has indicated that the current policy rate reflects a sufficiently accommodative monetary policy stance. Thailand's economy this year could also accelerate further, after 4Q 2025's better-than-expected performance, and due to post-election political stability. (amanda.lee@wsj.com)

1953 ET - Most Asian currencies strengthen slightly against the dollar in early morning trading amid risk-on sentiment spurred by Wall Street's gains overnight. Further appreciation in Asian currencies is possible if broader pro-risk environment stays intact, two FX strategists at OCBC Group Research say in a research report. The greenback is likely to "trade on the back foot while sustained positive risk sentiment could support continued foreign inflows into the region," the strategists add. USD/KRW falls 0.2% to 1,423.22, USD/MYR edges 0.2% lower to 3.8800, and USD/SGD is down 0.1% at 1.2623, LSEG data show. (ronnie.harui@wsj.com)

1946 ET - The Bank of Thailand's latest surprise policy rate cut signals the end of its easing cycle, ANZ Research's Kausani Basak and Sanjay Mathur write in a report. The rate cut is expected to alleviate the debt burden of small- and medium-size enterprises as well as households. The central bank's monetary policy committee now views the current policy rate as sufficiently accommodative, ANZ notes. BOT will also monitor any build-up of financial imbalances that might stem from a prolonged period of low interest rates.(amanda.lee@wsj.com)

1936 ET - JGBs fall in Tokyo's morning session, tracking overnight price declines in U.S. Treasurys. JGBs and Treasurys tend to move in tandem. Japan's sovereign debt market may also be weighed by risk appetite driven by gains in U.S. and Japanese equity markets. Moreover, the government's proposal to appoint two new BOJ policy board members isn't likely to "materially alter" the BOJ's policy normalization trajectory, JPMorgan's Ayako Fujita says in a note. Even if the two "reflationists" are selected, overall composition of the BOJ's board isn't expected to change significantly, the economist adds. Yield on 10-year JGBs is up 1.5 bps at 2.150%. (ronnie.harui@wsj.com)

1917 ET - The Nikkei Stock Average rises 1.1% to 59222.20, tracking Wall Street's gains overnight. The main theme has been risk-on, Commerzbank Research analysts say in a research report. Nvidia posted earnings and revenue well above expectations after the U.S. market close, which have "reinforced confidence in ongoing rollout of AI infrastructure and compute capacity," the analysts add. Gains on Japan's benchmark index are relatively broad-based, with Hitachi rising 4.6%, Toppan Holdings adding 4.8%, and Nomura Research Institute advancing 5.0%. USD/JPY is at 156.15, compared with 155.65 around Tokyo market close on Wednesday. (ronnie.harui@wsj.com)

1838 ET - Japanese stocks may rise, tracking Wall Street's gains overnight which were led by technology shares. Investors are also likely to welcome Nvidia's 4Q results, which showed the chip maker posting record $68 billion in sales, soothing worries over a potential artificial-intelligence bubble. Nikkei futures are 840 points higher at 59610 on the SGX. USD/JPY is at 156.24, compared with 155.65 around Tokyo market close on Wednesday. The Nikkei Stock Average closed 2.2% higher at record of 58583.12 on Wednesday. (ronnie.harui@wsj.com)

1730 ET - Australia's January inflation numbers looked sticky, and bets on an interest rate rise in May have risen as a result. But Jonathan Kearns, chief economist at Challenger and a former senior manager at the Reserve Bank of Australia says there was some good news in the data. The 3-month trimmed mean measure of inflation continued to ease to 0.81%. The 3-month trim is a timely indicator that aligns with the quarterly trimmed mean which still forms the basis of RBA decisions, he says. Still, inflation is still uncomfortably high for the RBA, he adds. The question is whether the current policy setting is tight enough to bring inflation back to quarterly rates of around 0.6% that are consistent with the RBA's target, Kearns says. (james.glynn@wsj.com; @JamesGlynnWSJ)

1642 ET - AUD/USD is higher trading near 0.7120. A weaker USD and strong gains in US and European equities are supporting the pair, says Kristina Clifton, FX strategist at CBA. Financial markets have increased pricing for an interest rate hike by the Reserve Bank of Australia in May after Wednesday's stronger Australian CPI for January, she adds. Markets are currently pricing around a 92% chance of a May hike, compared to around 85% before the CPI data. Still, in a warning for the future, CBA expects AUD/USD to decline as 2026 progresses as Australia is tagged as 'old economy' with markets focusing more on AI and other high tech industries, she says. (james.glynn@wsj.com; @JamesGlynnWSJ)

1546 ET - Treasury yields rise as Fed officials express concerns over inflation and central bank independence. Kansas City's Fed Schmid says policymakers "have work to do on the inflation side of things," while Atlanta's Bostic says political rhetoric undermines people's trust on the institution as an apolitical agency. Tomorrow, Fed's Vice Chair Bowman appears before the Senate's banking committee. Weekly jobless claims are forecast to increase to 215,000 from 206,000, in a WSJ consensus. The 10-year yield rises 0.015 percentage point to 4.047% and the two-year adds 0.018 p.p. to 3.471%. (paulo.trevisani@wsj.com; @ptrevisani)

1500 ET - Cava is leveling up its operations at the right time, showing its potential for scale and growth, Stifel analysts say in a note. The fast-casual chain has filled 60% of its new assistant general manager roles and restructured its field leadership ahead of opening new locations in the Midwest, the analysts say. The company is building the talent required to scale to 1,000 units by 2032 from 439 at the end of 2025, investing aggressively in infrastructure and talent during periods of strength, they say. The strategy "distinguishes CAVA as a scalable growth company, ensuring durable new unit productivity," they say. (kelly.cloonan@wsj.com)

1354 ET - Foreign direct investment in Mexico fell by $5 billion in 4Q with $138 million in new investment offset by negative reinvestment of profits and a negative flow in inter-company accounts, Bank of Mexico data show. Full-year FDI was still a record at $40.9 billion, of which $7.4 billion was new investment and $27.6 billion reinvested profits. The 4Q decline had mainly to do with payment of dividends and financial transactions of Mexican companies with their affiliates abroad, and doesn't represent canceled investments, the Economy Ministry says. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

February 25, 2026 20:30 ET (01:30 GMT)

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