US Passed, Japan Scored
US markets cheered weak jobs data yesterday, treating 32,000 job losses in November — and the fourth negative print in the last six months — …
December 4, 2025
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Not while JGBs keep pressuring
Bitcoin, USDJPY, JGBs — call it the holy trinity of risk appetite. Since Monday, these three have been my first stops when turning on the …
December 3, 2025
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Fragile rebound
Oh boy, what a start to the month! Japanese yields spiked after BoJ’s Ueda hinted at a rate hike, sending equities and Bitcoin tumbling, while …
December 2, 2025
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Ueda ruins the mood
Markets returned from Thanksgiving in a fragile mood, but it wasn’t the Fed, stretched tech valuations or holiday spending that set the tone this morning …
December 1, 2025
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A delicate setup
It always gets a bit… dull when the US steps out for Thanksgiving. The drama machine powers down, the rumours stop flying, and suddenly we’re …
November 28, 2025
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Happy Thanksgiving
Markets took a breather ahead of Thanksgiving, with US stocks adding to their gains and yields sliding. The 2-year Treasury yield — the December Fed …
November 27, 2025
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