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Oil Higher, Yen Consolidates, US to Reveal Bond Buyback Plans

September 09, 2026
There are two main developments today. The first is the escalation of the Middle East war has lifted oil prices. October WTI rose 9.7% last week, and with today’s gains, is a little more than 4% this week. This has helped lift bond yields.  The second is the short squeeze of the Japanese yen. Since the middle of last week, the yen has surged about…
Oil Higher, Yen Consolidates, US to Reveal Bond Buyback Plans Oil Higher, Yen Consolidates, US to Reveal Bond Buyback Plans Reviewed by Marc Chandler on September 09, 2026 Rating: 5
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Yen Short Squeeze Runs into Middle East War Escalation

September 08, 2026
The yen’s surge that began in the middle of last week continued today. The greenback fell from above JPY160 to a little below JPY153 today, its lowest level in seven months. There still is no evidence of official intervention. The swaps market continues to price a hike next week and most likely another in December. It has hardly changed since the …
Yen Short Squeeze Runs into Middle East War Escalation Yen Short Squeeze Runs into Middle East War Escalation Reviewed by Marc Chandler on September 08, 2026 Rating: 5
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Week Ahead: Yen in Play, ECB Hikes, and US CPI to Impact FOMC

September 05, 2026
The G20 and Shanghai Cooperation Council held their respective summits. The American agenda was to convince countries to take a harder stand against Chinese exports while still threatening some members with sanctions due to trade or facilitating trade with Iran, including airlines. The G20 failed to agree on a statement.  Media accounts blamed Chi…
Week Ahead: Yen in Play, ECB Hikes, and US CPI to Impact FOMC Week Ahead: Yen in Play, ECB Hikes, and US CPI to Impact FOMC Reviewed by Marc Chandler on September 05, 2026 Rating: 5
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Yen Stabilizes as Market Awaits US Employment Data

September 04, 2026
The US dollar is mostly consolidating quietly ahead of the employment data.  Seasonal factors, and the challenge economists experience in forecasting August job growth in part because of the distortions around local governments and the beginning of the new school year.  While Federal Reserve Governor Waller drew attention to next week’s CPI, an un…
Yen Stabilizes as Market Awaits US Employment Data Yen Stabilizes as Market Awaits US Employment Data Reviewed by Marc Chandler on September 04, 2026 Rating: 5
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The Yen Squeezes Higher, Though Official Fingerprints are Elusive

September 03, 2026
The main story today is the Japanese yen.  It is sharply higher today.  The move began early North America yesterday.  No one claimed intervention and many, including ourselves, thought it may have been a rate check.  An initial look at the BOJ’s balance sheet suggests that Japan likely did not intervene yesterday.  The dollar trended lower throug…
The Yen Squeezes Higher, Though Official Fingerprints are Elusive The Yen Squeezes Higher, Though Official Fingerprints are Elusive Reviewed by Marc Chandler on September 03, 2026 Rating: 5
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Bond and Equity Sell-Off Continues, Greenback Extends Gains

September 02, 2026
The risk averse market conditions persist. Yields are higher and stocks are lower. October WTI set a new contract high as hostilities in the Middle East continue. The S&P 500 and Nasdaq composite could gap lower when the cash session begins, though ADP private sector jobs estimate will be released before the opening.  The US dollar is firmer a…
Bond and Equity Sell-Off Continues, Greenback Extends Gains Bond and Equity Sell-Off Continues, Greenback Extends Gains Reviewed by Marc Chandler on September 02, 2026 Rating: 5
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The Dollar Bounces Back but US Efforts on Rates and the Yen are Being Challenged as Iran Presses Hard The Dollar Bounces Back but US Efforts on Rates and the Yen are Being Challenged as Iran Presses Hard Reviewed by Marc Chandler on September 01, 2026 Rating: 5
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