Global Forex and Fixed Income Roundup: Market Talk

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

0546 GMT - Investors will have to get more used to uncertainty under new Federal Reserve Chairman Kevin Warsh, Aviva Investors' Ed Hutchings says in a note. Although the Fed's decision to leave interest rates on hold was largely expected, there was a fair degree of uncertainty going into the meeting, both around the outcome and the rhetoric that would follow, the head of rates says. "This is seemingly something investors will have to get more used to under the new Fed chairman," he says. (emese.bartha@wsj.com)

0541 GMT - Japan's economy might be more resilient than in the past, with some evidence showing solid spending appetite among households and businesses despite headwinds such as uncertainty in the Middle East and higher oil prices. The latest sign came from the government's consumer confidence survey released Thursday. The Cabinet Office upgraded its assessment, saying Japanese consumer sentiment showed signs of picking up in July. The consumer confidence indicator for July increased by 1.1 points compared with the previous month, the third straight month of growth. (megumi.fujikawa@wsj.com)

0539 GMT - The U.S. 30-year Treasury yield hits a 19-year high of 5.237% in Asian trading as yields jump across maturities following fresh strikes by U.S. forces against Iran on Wednesday night. The U.S. military called the strikes a "powerful response" to Iran's missile attacks on U.S. forces in Jordan. Short-end Treasury yields closed lower on Wednesday following the Federal Reserve's "hawkish hold," while long-end yields ended the session higher, featuring a steepening pattern. The steepening continues in Asian hours, with long-end yields rising more than short-end yields, according to Tradeweb data. The two-year Treasury yield is up 4.9 basis points at 4.283%, while the 10-year yield is up 7.8 basis points at 4.699%. (emese.bartha@wsj.com)

0517 GMT - The Federal Reserve's highly anticipated July meeting was underwhelming, in line with expectations as the Fed kept rates on hold and three members dissented in favor of a hike, IFM Investors' Ryan Weldon says in a note. "The statement was short and sweet, as has become the expectation under Chair Warsh, with the Fed still committing to delivering price stability," the investment director and portfolio manager says. However, comments attributing part of the inflationary pressures to supply shocks also provide an out should the Fed feel that a hike in September is unwarranted, he says. (emese.bartha@wsj.com)

0509 GMT - With three members dissenting, the Federal Reserve's decision to leave rates unchanged certainly looks to have been more of a family fight than a consensus call, validating the finely balanced market pricing heading into the meeting, Principal Asset Management's Seema Shah says in a note. "The statement offered little new information, but the dissents send a clear message: the Fed is not yet convinced the inflation battle has been won," the chief global strategist says. While cuts remain off the table for now, neither can investors rule out another increase before the end of the year, she says. Principal Asset Management's base case remains that the Fed stays on hold through the rest of 2026 as underlying inflation pressures ease, "but confidence around that view is low." (emese.bartha@wsj.com)

0506 GMT - ​An interest-rate hike by the Federal Reserve would have rocked an already weak equity and fixed income market, Thornburg Investment Management's Christian Hoffmann says. The Fed left rates unchanged, which "was not a forgone conclusion," the head of fixed income says, calling this an "uncomfortable hold." Although this comes on the back of some constructive inflationary data, oil is spiking again amid geopolitical uncertainty​, he says. "We have been led to believe that this is no longer a Fed that telegraphs its every move well before it happens and doesn't share its thoughts frequently in a broad range of venues​," he says. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

July 30, 2026 01:46 ET (05:46 GMT)