Last updated: September 30, 2026, 6:03 AM ET
Currency Markets
The dollar is wrapping up its best month since June after the Federal Reserve’s aggressive inflation fight, with Dollar powers extending gains on signs of persistent price pressures. Sterling rose to a one-month high against the euro after data showed the U.K. economy’s second-quarter growth was revised higher, with Sterling rises tracking the upbeat revision. The yen strengthened past 157 per dollar, outperforming G-10 peers as a series of government interventions and Yen strengthens bolstered risk aversion. Asian currencies consolidated amid rising oil prices, with the WSJ Dollar Index up 0.11% to 96.96.
Fixed Income & Bond Markets
Long-term Treasury yields pushed higher despite a decline in oil prices, with the Long-term Treasury yields touching a 24-year high as investors priced in delayed Fed easing. Two-year Treasury yields fell as a Fed official signaled patience, while Treasury yields rise amid stronger-than-expected economic indicators. Japan’s two-year government bond auction saw stronger demand than the prior session, with Japan two-year bond yields declining. Bulgaria sold euro-denominated benchmark bonds in three tranches to plug its budget deficit, raising Bulgaria sells €2.25 billion. Gold steadied after advancing on Tuesday, with Gold steady as markets awaited U.S. economic data.
Equities & Stock Markets
Asian equities mostly rose while bond yields eased, as diminished expectations of further Fed rate hikes bolstered Asian equities rise. Korean stocks faced pressure as Samsung and SK Hynix neared the end of buybacks that had boosted the Kospi, with Samsung, SK Hynix signaling a key source of support was fading. Indian markets showed resilience despite oil price spikes, with India’s IPO boom powering on and listing proceeds topping $9 billion in the July-September quarter. Turkish stocks edged closer to bear market territory after fund turmoil, with Turkish stocks set to enter bear market amid crisis. U.S. stocks pared losses after comments from Fed’s Williams, but U.S. stocks edge lower amid consumer confidence sinking.
Commodities
Oil prices fell as investors weighed uncertainty over U.S.-Iran talks and a Oil falls on signs of Middle East export recovery. Gulf crude exports rebounded, with Saudi pipeline loading resuming, though prices remained elevated. Lithium plunged 25% in China on fears over battery demand growth, with Lithium plunges shedding a quarter of value this month. Gold steadied as traders weighed lower oil against higher yields, with Gold steady after advancing on Tuesday. OPEC+ delegates indicated they were likely to stick with a plan to hold steady quotas, with OPEC+ likely maintaining current production levels.
Deals & M&A
Paramount Skydance Corp. has been talking to investors for months about the debt structure for its Warner Bros. buyout, with Paramount deal drawing attention to an $110 billion package. The loan portion of the deal drew $115 billion of demand, with Paramount loan upsizing by $2 billion. Apollo and Oaktree sued Patrick Drahi over his U.S. telco restructuring, with Apollo and Oaktree arguing the billionaire is liable for a “brazen” plan. Deloitte partner pay hit a record £1.1mn as firm cuts staff, with Deloitte partner compensation rising amid staff reductions. Inox Clean Energy filed for a $1 billion India IPO, with Inox Clean Energy submitting a draft prospectus for its initial public offering.
Special Features
The U.K. bakery chain Greggs plans to close four manufacturing sites with 740 jobs at risk, with Greggs to cut factory jobs amid inflation pressures. Radiant World faces expanded job cuts after a Singapore court stripped founders of control, with Radiant cuts staff beyond its core iron ore business. France’s 10-year bond risk premium rose to 120 basis points as investors gird for policy shifts, with France bond risk reaching another milestone. Shell-led consortium backed a $23 billion expansion of the LNG Canada project, with Shell-led consortium doubling the flagship liquefied natural gas project’s production capacity.