BOJ rate hikes, Ukraine peace deal, tech rebound...

Japanese government bond (JGB) yields increased, reflecting anticipation of potential interest rate hikes by the Bank of Japan (BOJ) amid elevated inflation. Analysts suggest that the BOJ’s stance could mark a shift from its historically dovish policies. This development could attract foreign investors seeking higher returns in Japan, potentially impacting global bond markets and exchange rates. However, concerns remain about the broader implications for Japan’s heavily indebted economy. Wall Street Journal (Markets)

Gold prices edged higher as expectations of a Federal Reserve rate cut gained traction following dovish remarks from central bank officials. This trend signals growing investor sentiment favoring safe-haven assets amid uncertainty in the broader economic outlook. Analysts warn, however, that any unexpected hawkish pivot by the Fed could reverse these gains. Wall Street Journal (Markets)

The UK Treasury’s U-turn on business rates is set to affect large retail premises, placing them in the highest tax band under a property-based levy. This move has sparked concerns within the retail sector, as increased costs could strain profit margins amidst declining consumer confidence. Economists argue this measure reflects the government’s attempt to balance fiscal responsibility with political pressures. Financial Times

BHP, the Australian mining giant, made and abruptly withdrew its bid for Anglo American, highlighting the intensified competition for copper, a key material in the energy transition. The failed bid underscores the strategic challenges mining companies face as they pursue sustainable growth opportunities in an increasingly competitive landscape. Financial Times

A Deloitte survey reveals that US shoppers plan to cut Black Friday spending by 4% this year, citing cost-of-living pressures. High-income earners are expected to reduce spending more significantly, potentially signaling a broader economic slowdown. Retailers may need to adapt by offering deeper discounts or altering inventory strategies to sustain demand. bostonglobe.com

Barrick Gold reached a settlement with the Malian government over disputes concerning the Loulo-Gounkoto gold mines. The agreement allows for the reclamation of the facilities and the release of detained workers. This resolution could stabilize operations in one of Africa’s key gold-producing regions, although geopolitical risks remain a concern for investors. Financial Times

Oil prices slipped amid speculation of a potential Ukraine-Russia peace deal, which could reduce geopolitical risk premiums in energy markets. Analysts suggest this development might bring stability to oil prices, but the broader market impact will depend on the details and durability of any agreement. Wall Street Journal (Markets)

The Colombian government has launched an investigation into alleged ties between military leaders and a guerrilla group involved in drug trafficking. This move follows reports of the army facilitating arms transfers, raising concerns over corruption and the state’s ability to combat organized crime. The inquiry could have lasting implications for Colombia’s security framework. World Street Journal (International)

The Nasdaq surged 2.7%, marking its best performance since May, driven by gains in Alphabet and other chip stocks. Analysts attribute the rally to optimism in the tech sector, fueled by robust earnings and innovation in artificial intelligence. This rebound suggests renewed investor confidence, although concerns about overvaluation persist. Wall Street Journal (Markets)

The White House is discussing implementing income caps for Affordable Care Act (ACA) enrollees to access enhanced healthcare subsidies. This proposal aims to curb rising health insurance costs while addressing fiscal pressures. Critics argue it could limit access for middle-income families, potentially fueling political debates ahead of the next election cycle. Wall Street Journal (politics)