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The Japanese currency rose to its strongest intraday level since late February, extending a recovery that gathered momentum last week.
JPMorgan's Arindam Sandilya says yen strength alone is unlikely to trigger an unwind of global carry trades as investors have diversified funding into other low-yielding currencies. He argues a deflationary shock, potentially from a premature end to the AI cycle, poses a greater threat.
Klay Group's Uday Vikram says a sustained yen appreciation will require a meaningful narrowing of US-Japan rate differentials. He also remains constructive on South Korean equities, arguing that the market's structural growth drivers remain intact.
The bloc's GDP picked up more rapidly than previously estimated in the quarter through June, but that resilience will be tested if the Iran war continues to block the Strait of Hormuz.
China's private soybean processors face a costly fourth-quarter supply squeeze as inventories tighten in top exporter Brazil and tariffs keep U.S. cargoes largely out of reach.
JPMorgan is operating at near peak conditions, with Q2 ROTCE at ~23% and record Markets and Investment Banking revenue. JPM's valuation is historically elevated at ~3.2x tangible book and ~14.8x forward PE, making the common stock a Hold due to multiple compression risk. Preferred shares (JPM.PR.M, JPM.PR.K, JPM.PR.J, JPM.PR.L) offer ~6.4% yields and discounted entry, but rate risk limits immediate upside.
The West Texas Intermediate and Brent crude contracts for October and November delivery, respectively, are steady after rising earlier in the session.
European natural-gas prices climbed more than 2%, trading just shy of 74 euros a megawatt-hour as supply flows from Qatar remained severely disrupted.
U.S. nonfarm payrolls shattered expectations in August, seeing their largest gain in five months. The data ramped up market bets the Fed will hike rates this month, but President Trump doubled down on calls for a cut, while adding a new trade threat into the mix.
Guy Johnson and Adam Linton break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." -------- More on Bloomberg Television and Markets Like this video?
Huawei launched a new version of its flagship foldable smartphone on Monday as it seeks to defend its lead in the Chinese market for premium handsets against Apple and Xiaomi , both of which are also unveiling new products.
The luxury car maker is opening a voluntary redundancy program for salaried and management team members.
Output fell 1.1% on month after a flat reading in June, the country's statistics agency Destatis said Monday.
Block is delivering accelerating top line growth and substantial margin expansion post-restructuring, driven by Cash App lending and operational efficiencies. XYZ posted 25% YoY gross profit growth and a 27% adjusted operating margin, both exceeding guidance, with Cash App origination volumes up 59% YoY. The stock trades at ~20x earnings, with consensus expecting double-digit top line growth and significant operating leverage; I reiterate my buy rating.
Liquid Network, a Bitcoin-based payments and settlement network, said on Sunday that about $320 million was withdrawn from its federation wallet in a hack.
