Market News

Just last week, I highlighted the tectonic shift taking place in the global bond market in arguing that markets may have to get used to an era of structurally higher yields. And yesterday's announcement from the US Treasury offers another interesting test of that argument.

The Treasury said that it will buy back as much as $6 billion of 10-to-20-year government bonds, tripling the previous $2 billion size.

Now on the surface, that should be supportive for bonds. The theory is that Treasury buying removes older securities from the market, helping with liquidity while creating demand and pushing down yields.

But instead, we're continuing to see 10-year Treasury yields hold near 4.85%, its highest since 2023. So, what gives?

Why didn't the…

With plenty happening in broader markets at the moment, cryptocurrencies definitely have plenty to focus on in September.

Treasury yields are surging. Oil is printing above $100 again. Inflation risks are back in focus, just as the Fed will be meeting next week.

However, one of the most important catalysts for Bitcoin, Ethereum and the broader crypto market may come from Washington instead.

The CLARITY Act (Digital Asset Market Clarity Act), a major piece of US crypto regulation aimed at establishing clearer rules for digital assets, faces a crucial procedural vote at the Senate on 15 September.

This vote will determine whether lawmakers can move forward with debating the legislation, with 60 votes needed to clear the cloture hurdle.

While not…

• Earnings season is turning more defensive, but the weakness is not everywhere
• Bank of Korea links Kospi's wild swings to leverage both at home and abroad
• Korea Exchange to launch real time trading through to 8pm from September 14
• Trump ties $5,000 payment promise to a full Republican midterm sweep
• Weak yen, oil costs and food prices in focus as BOJ's Masu talks hikes
• What the September futures rollover means for traders, ES and NQ as examples
• Gold steady near $4,400 as traders brace for US inflation data
• PBOC sets USD/ CNY reference rate for today at 6.7766 (vs. estimate at 6.7074)
• Euro braces for ECB tone today as ING sees a 25bp hike either way
• Construction surges at suspected Iran nuclear site as US eyes "deep strikes" (cough ...)
• Trump aides…

The Bank of Korea drawing an explicit line between Kospi's extreme volatility and offshore leveraged positioning in Samsung and SK Hynix highlights a risk that sits largely outside Korean regulators' direct reach, since the derivatives in question are traded overseas. That is a meaningfully different problem from the domestic leveraged ETF boom that authorities have already moved to curb, and suggests further scrutiny or disclosure requirements could follow, though the central bank has stopped short of proposing specific measures so far. Given how concentrated Kospi already is in these two names, any tightening of oversight on either the domestic or offshore leverage side is likely to be watched closely for its potential to dampen the…

investingLive.com has prepared for you stock investors a U.S. earnings sentiment through September 9, 2026

Recent U.S. earnings reactions suggest investors are becoming less forgiving. Nearly half the stocks in the latest completed group rose, yet several influential disappointments pulled the overall picture lower. Technology and consumer shares showed particular weakness, while meaningful winners remained. The evidence points to a selective, increasingly defensive market.

Key takeaways from the latest earnings reactions

• Winners still exist: About 48% of stocks in the September 9 completed earnings-reaction group advanced.

• Large declines matter: The overall reaction was approximately -2.7% when larger companies carried more influence.

• Sector…

For anyone trading Korean equities, this is a genuine expansion of the trading day rather than a cosmetic change, since real time continuous matching replaces a system that only cleared orders every 10 minutes. That should meaningfully improve price discovery after the regular 3:30pm close, letting traders react immediately to earnings, corporate actions or global headlines that land during the new window rather than waiting for the next 10 minute batch or the following day's open.

The exclusion of ETFs and ETNs from the initial rollout is worth flagging for anyone using those instruments to hedge or gain sector exposure, since that liquidity will remain confined to the regular session for now.

The competitive backdrop also matters:…

A pledge of this scale, if it were ever legislated, would represent a meaningful debt expansion at a moment when concerns about the deficit and Treasury issuance are already weighing on bond markets. For now, the promise is conditional on a Republican sweep in November and carries no funding mechanism or legislative pathway, so it is unlikely to move markets in the near term.

The more relevant read for traders may be what it signals about the administration's political strategy heading into the midterms, using direct payments as a response to public concern over the cost of living, rather than any immediate fiscal or monetary policy implication.

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Earlier:

• Bond yields hit highest since 2023 as stocks fall, oil tops $100 and buyback misfires

Masu's comments add to a hawkish tilt already building among BOJ board members ahead of the September meeting, reinforcing market expectations that a hike is likely, indeed abasically set in stone. His specific focus on the weak yen having a bigger inflation impact than in the past, alongside concern about producer prices feeding through to consumer inflation more than historically, gives the yen some support on the margin, since it signals the board is not just reacting to headline energy costs but building a broader case for policy normalisation.

With the policy rate already described as approaching the estimated neutral range, the more market sensitive signal here may be Masu's comment that the BOJ could be forced to raise rates…

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.

more to come

Gold sitting almost unchanged near $4,400 reflects a market unwilling to commit ahead of two closely watched inflation prints, rather than any strong directional conviction. The more interesting signal is the gap between a Reuters poll of economists, which points to the Fed holding rates steady through year end, and the CME FedWatch Tool, which still assigns a 60% probability to a hike this month, a divergence that leaves plenty of room for a sharp repricing once the data lands.

Gold's safe haven bid has been a relatively muted part of this year's price action given how far the metal has already run on other drivers, so today's US-Iran headlines and a likely ECB hike are likely to matter more for the dollar and for rate expectations than…

What the September futures rollover means for ES and NQ traders

Every quarter, traders in the E-mini S&P 500 (ES) and E-mini Nasdaq-100 (NQ) go through a ritual that catches out newer participants more often than it should: the futures rollover. With the next quarterly expiry falling on the third Friday of September, this is a good moment to explain what is actually happening, and why it matters even if you never intend to hold a contract into expiry.

Why futures expire at all

Unlike a stock, which exists indefinitely, a futures contract is a promise to buy or sell an underlying asset at a set price on a set date. Index futures like ES and NQ follow a quarterly cycle: March, June, September and December, often labeled H, M, U and Z after…

With ING pencilling in a 25 basis point hike across every scenario it considers, today's meeting is likely to be less about the rate decision itself and more about the accompanying language and projections. The spread ING lays out between its most dovish and most hawkish outcomes, EUR/USD ranging from 1.150 to 1.168 and the 10 year Bund yield from 3.30% to 3.45%, points to meaningful two way risk around the press conference rather than the decision itself. Given the euro and Bund currently sit close to the middle of that range, at 1.161 and 3.40% respectively, positioning into the announcement looks reasonably balanced, leaving room for a sharp move once the tone of the guidance becomes clear.

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Earlier:

• ECB preview: A rate hike expected…