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

0751 GMT - The Bank of Thailand weighed the risks of maintaining low interest rates last month, according to minutes of the rate-setting meeting, where committee members voted unanimously to maintain the policy rate at 1.00%. Some committee members pointed to "the impact on the country's credit rating, diminished policy headroom and the accumulation of financial system vulnerabilities driven by extended periods of low interest rates." The central bank expects inflation to accelerate, reiterating its forecast of 2.8% for 2026 and 1.4% in 2027. The BOT noted "that cost pass-through by businesses and medium-term inflation expectations should be closely monitored in an environment where prices and costs remained elevated." (jihye.lee@wsj.com)

0747 GMT - Gold prices edge lower but have so far found support above $4,100 a troy ounce as investors await the release of the Federal Reserve's meeting minutes for more cues on the monetary policy outlook. "The metal continues to trade largely in line with shifting U.S. rate expectations," ING analysts say. "Last week's weaker-than-expected jobs data reduced expectations of additional tightening and helped gold stabilize back above the $4,000-an-ounce level." Meanwhile, continued gold purchases by China's central bank, alongside reserve diversification by central banks globally, also provided underlying support for bullion. In early trading, New York futures fall 0.5% to $4,135.50 an ounce but are up more than 2% on the week. (giulia.petroni@wsj.com)

0726 GMT - The Swedish krona falls after data showed inflation eased in June, dampening the prospect of the Riksbank raising interest rates. The consumer price index with fixed interest rate fell to 1.3% year-on-year in June from 1.5% in May. "We see no reason for markets to price a hike back into the SEK curve at this stage, in line with our longstanding call for a prolonged hold," ING's Francesco Pesole says in a note. The euro could linger above 11.00 krona for longer before starting a gradual decline in late summer if markets reprice Federal Reserve rate rise bets, he says. The euro rises 0.1% to an intraday high of 11.0720 krona after the data, from 11.0531 beforehand. (renae.dyer@wsj.com)

0723 GMT - London's miners fall in morning trade as oil prices move higher after the U.S. and Iran exchanged fire in an escalation that could threaten peace talks. All European indexes were down at the open. Higher oil prices could fuel inflation fears and lead to higher interest rates globally. Precious metal miner Hochschild Mining drops 3.2% while peer Fresnillo slides 2% and Endeavour Mining drops 1.4%. Diversified miners Anglo American and Rio Tinto fall around 1.7%.(adam.whittaker@wsj.com)

0722 GMT - Yields on U.K. 10-year gilts climb to their highest level since June 11 after renewed U.S.-Iran strikes caused oil prices to rise and revived inflation concerns. The U.S. struck sites along Iran's coast and blocked its ability to sell oil legally on Tuesday in response to Tehran's recent attacks on ships near the Strait of Hormuz. Ten-year gilt yields climb 8 basis points to 4.909%, a four week high, Tradeweb data show. (miriam.mukuru@wsj.com)

0711 GMT - Bitcoin edges lower as renewed worries about an artificial intelligence bubble and the U.S.-Iran conflict weigh on risk sentiment. Chip giant Samsung Electronics' strong earnings failed to meet lofty expectations, dragging sector peers lower and prompting investors to flee AI investments. The U.S. struck sites along Iran's coast and blocked its ability to sell oil legally Tuesday in response to Tehran's recent attacks on ships near the Strait of Hormuz, WSJ reports. "We do not think that the recent developments will break the ceasefire, but they do highlight the fragile nature of the truce," Jefferies economist Mohit Kumar says in a note. Bitcoin drops 1.8% to $62,514, LSEG data show.(renae.dyer@wsj.com)

0706 GMT - Eurozone government bond yields rise in opening trade, with the 10-year Bund yield hitting a four-week high of 3.032%, according to LSEG data. Rising eurozone bond yields follow their U.S. peers, with the 10-year Treasury yield also hitting a four-week high of 4.565% in Asian trade. Yields rise as the U.S.-Iran ceasefire came under renewed pressure, causing oil prices to move higher. The renewed military escalation "serves as a reminder of the fragility of the talks as well as underscores how deep the water between the parties still is," analysts at KBC Bank say in a note. (emese.bartha@wsj.com)

0705 GMT - The dollar trades steady ahead of the release of the Federal Reserve's meeting minutes for June at 1800 GMT. Kevin Warsh's first meeting as Fed Chair had prompted markets to price in more interest rate rises due to his commitment to price stability and projections signalling a chance of tightening. However, Warsh explicitly avoided policy guidance so it seems unlikely he would permit such guidance via the minutes, Standard Chartered's Steve Englander says in a note. "Avoiding any discussion of rate hikes may come to be seen by the market as a reluctance to move." The DXY dollar index trades flat at 101.017, having briefly reached a near one-week high of 101.215 overnight on safe-haven flows due to increased U.S.-Iran tensions and tech-stock selling. (renae.dyer@wsj.com)

0609 GMT - Although JGB yields have been rising rapidly, it would be counterproductive to ask the Bank of Japan to curb the rise by increasing bond purchases, as the yield increase reflects market concerns over fiscal discipline, says Rakuten Securities Economic Research Institute economist Nobuyasu Atago. "Amid persistent inflation, raising the policy rate to adjust monetary accommodation is essential for the central bank to maintain credibility in its policy conduct," he says. "On the other hand, containing long-term yields requires the government to maintain a firm commitment to fiscal discipline" rather than relying on the central bank to solve that problem, he adds. The 10-year JGB yield was last up 3.0 bps at 2.870%. (megumi.fujikawa@wsj.com)

0607 GMT - Valuations in 10-year U.S. Treasury yields look unattractive, therefore Wednesday's 10-year auction might need concession for a smooth takedown of the $39 billion offer volume, J.P. Morgan strategists say in a note. "Given unattractive valuations and a less supportive macro backdrop," the auction likely requires more of a concession in order to be digested smoothly. "We maintain a neutral technical bias as the chart lacks a clear setup," they say. The 10-year U.S. Treasury yield rises 2.2 basis points to 4.550%, having come off a four-week high of 4.565% it reached earlier in the day, according to Tradeweb. (emese.bartha@wsj.com)

0555 GMT - The German 10-year Bund yield is likely to rise above 3% in Wednesday's trade, Commerzbank's Hauke Siemssen says in a note. "Bunds remain in sell-off mode with the latest spike in oil prices and attacks in the Middle East," the rates strategist says. Little data is on the calendar to change these dynamics, he says. "Ten-year yields look set to explore territory above 3% today," Siemssen says. The 10-year Bund yield closed at 2.990% on Tuesday, according to Tradeweb. On Wednesday, the German Finance Agency will launch the new 3% August 2036 Bund via auction. (emese.bartha@wsj.com)

0546 GMT - It's only a matter of time before the 10-year JGB yield exceeds 3%, driven by inflation, the BOJ's rate-hiking stance and fiscal fears, says Rakuten Securities Economic Research Institute economist Nobuyasu Atago. Pausing tightening too soon to cap yields could look like prioritizing fiscal needs over price stability, risking further yield spikes and yen weakness, he says. Unless financial stability is threatened, the BOJ is unlikely to take pre-emptive action to curb rising yields and will instead steadily normalize monetary policy, he adds. The 10-year yield was last up 2.5 bps at 2.865%.(megumi.fujikawa@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 03:51 ET (07:51 GMT)

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