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

2013 ET - Japanese stocks are lower amid caution over U.S.-Iran peace talks and following the benchmark index's record high on Thursday. Metals and brokerage stocks are leading the declines. Sumitomo Metal Mining is down 4.0%, and Nomura Holdings is 2.2% lower. The dollar is at 159.22 yen, compared with Y158.88 as of Thursday's Tokyo stock market close. Investors are closely monitoring developments in the Middle East and any Japanese government measures to deal with the conflict and a shortage of energy and petrochemical products. The Nikkei Stock Average is down 0.7% at 59085.09. (kosaku.narioka@wsj.com; @kosakunarioka)

2004 ET - South Korea's economy likely rebounded in 1Q after contracting in the previous quarter, Barclays' Bum Ki Son says. Stronger-than-expected exports, along with a recovery in private consumption and facility investment, likely drove GDP growth of 1.2% quarter-on-quarter and 3.0% year-over-year in the January-March period, the economist says. The impact of the Middle East conflict has yet to be reflected in 1Q data, but could begin to weigh on petrochemical and other sectors from 2Q, Son says. In 4Q of 2025, GDP fell a revised 0.2% quarter-on-quarter while rising a revised 1.6% year-over-year. (kwanwoo.jun@wsj.com)

1945 ET - Japan's Nikkei Stock Average may decline amid caution over U.S.-Iran peace talks and after the benchmark index hit a record high on Thursday. Nikkei futures are down 0.2% at 59470 on the SGX. The dollar is at 159.15 yen, compared with Y158.88 as of Thursday's Tokyo stock market close. Investors are focusing on developments in the Middle East and any Japanese government responses to the conflict and a shortage of energy and petrochemical products. The Nikkei Stock Average rose 2.4% to an all-time high of 59518.34 on Thursday. (kosaku.narioka@wsj.com)

1851 ET - Netflix says it's seeing two early indicators that its podcast business may boost overall engagement. For one, viewers tend to listen to podcasts during daytime hours, allowing Netflix to capture a time when it tends to have less engagement, co-CEO Ted Sarandos says during a call with analysts. People are also viewing the podcasts on mobile, a format where TV and film have historically made up a small share of viewing, he says. "It's great that we get to meet our members where they are, even when they're enjoying other forms of entertainment," Sarandos says. "That's really a thrilling early sign." The streaming giant says it plans to continue adding to its podcast catalog, which includes new Netflix originals as well as several licensed podcasts across genres like pop culture, true crime and sports. (kelly.cloonan@wsj.com)

1733 ET - '90s-vintage internet company Yahoo has a modest AI risk, with "relative insulation versus peers more reliant on search traffic," according to Fitch. Yahoo benefits from a high proportion of direct traffic and a sizeable logged-in user base, with repeat visitation and durable user engagement for Finance, Sports and Mail, Fitch says as it upgrades Yahoo's issuer default rating to B from B-. The rating firm says challenges during the company's AdTech migration in 2023 and 2024 were followed by a sharp rebound in 2025. Fitch also says the company's refinancing is credit-positive. Apollo Global Management bought Yahoo and AOL from Verizon Communications for about $5 billion in 2021. Bending Spoons recently bought AOL. (josh.beckerman@wsj.com)

1548 ET - Treasury yields rise amid apparent progress in peace negotiations and uplifting U.S. economic indicators. President Trump says a cease-fire between Israel and Lebanon starts today, and that a peace agreement with Iran is "very close." Jobless claims decrease, indicating layoffs remain at bay. The Philadelphia Fed's business activity index outperforms expectations. March industrial production, however, declines. Futures price a lengthy Fed hold. The 10-year rises 0.029 percentage point to 4.308% and the two-year adds 0.014 p.p. to 3.777%. (paulo.trevisani@wsj.com; @ptrevisani)

1540 ET - Most of the Fed's easing is "in the rearview mirror" and "we are still waiting for that impact to emerge," Truist's Chip Hughey says. He expects the Fed to stay on hold for now, while one or two cuts later this year are possible. That would add up to half of a percentage point, compared to 1.75 p.p. cut between September and December. "We'll get some relief but probably not a tremendous amount of relief," he says. Hughey expects Treasury yields to remain elevated as markets fear inflation stemming from the war in Iran will keep the Fed from cutting anytime soon. (paulo.trevisani@wsj.com; @ptrevisani)

1534 ET - The 10-year Treasury yield is unlikely to surge past 4.5%, Truist's Chip Hughey says.Yields spiked last month as the war in Iran boosted oil prices. The 10-year peaked at 4.44% on March 27 and remains above pre-war levels. "Locking in longer-dated fixed income became more attractive with that really abrupt spike in yields," Hughey says. He adds that the type of inflation concerns that would push the benchmark yield above 4.5% would also trigger growth concerns that typically have the opposite effect. That high level could also push investors to sell stocks and buy bonds, also capping yields. (paulo.trevisani@wsj.com; @ptrevisani)

1525 ET - A cease-fire deal between Israel and Lebanon could support demand for Treasurys and weigh down on yields, to the extent that it points to broader peace in the Middle East, Truist's Chip Hughey says. "That is a positive step towards a more durable resolution" to the conflict between U.S., Iran and Israel, he says. Peace will likely entail a lengthy process, though. "The events in Iran are not going to wrap up in the very, very near term." Concerns about the conflict's duration and its inflationary impact are applying upward pressure in yields today, he says. (paulo.trevisani@wsj.com; @ptrevisani)

1336 ET - Cryptocurrency and the blockchain is expected to take on a central role in the expansion of money apps by social media giants like X and Meta, says Grayscale in a note. The firm points to the introduction of "smart cashtags" on X as the next major step in the integration of crypto infrastructure with the other roles social media plays. Grayscale points to China's WeChat as an implementation of the "everything" app that X looks to follow, and may signal the direction companies like Meta and PayPal take with their offerings. Bitcoin is down 0.9% today to $74,133, according to data from LSEG. (kirk.maltais@wsj.com)

1311 ET - Major cryptocurrencies are mixed, according to data from LSEG. Selling pressure appears to be taking a backseat in recent days, says David Duong of Coinbase Institutional in a research note. "Seller pressure also appears to have abated, with liquidations and profit-taking less of a headwind than in prior weeks," says Duong, who adds that this "aligns with a market that is moving from forced de-risking toward more voluntary, discretionary positioning." Bitcoin and ethereum are lower currently, with BTC down 0.6% to $74,411 and ETH down 1.6% to $2,325. But other major cryptos are higher, with solana up 2% to $86.52, XRP up 3% to $1.43, and dogecoin up 2.3% to 9.7 cents. (kirk.maltais@wsj.com)

1309 ET - The Canadian dollar's response to higher energy prices triggered by the war in Iran will remain subdued, says Oliver Gervais, director of economic forecasting at Bank of Nova Scotia. He says the link between CAD and crude-oil prices has weakened materially over the past decade, and the current episode is no exception. Canada is a net crude exporter, so national income is set to climb due to higher energy prices. Gervais, however, says his modeling indicates a stronger appreciation in CAD tied to demand-driven oil price increases rather than jumps due to supply shocks. He estimates that a 10% rise in WTI prices linked to supply shocks leads to CAD appreciation of 1%, versus a 3% appreciation from demand-driven factors. (Paul.Vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

April 16, 2026 20:13 ET (00:13 GMT)

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