In Asian Equity Markets stocks tracked Wall Street losses and the yen fell on Friday as investors remained filled with uncertainty over how aggressively the Federal Reserve would raise interest rates to tackle inflation despite softer numbers earlier this week. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.10 percent, and Australia’s AXJO was down 0.62 percent. Japan’s Nikkei was the major outlier, rising 2.37 percent to its highest level since January as markets reopened following a national holiday.

In Currency Markets the Japanese yen fell the most against a resurgent U.S. dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed will have to do a lot more to contain inflation. The dollar index rose 0.1 percent to 105.210, with the euro down to $1.0311. The Japanese yen weakened 0.12 percent to 133.19 per dollar, while sterling was last trading at $1.2184, down 0.23 percent on the day. The euro rose 0.05 percent against the yen at 137.340. The kiwi fell 0.16 percent versus the greenback to $0.643.

In US Equity Markets the Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The Dow rose 0.08 percent, to 33,336.67, while the S&P 500 slid 0.07 percent, to 4,207.27 and the Nasdaq Composite fell 0.58 percent, to 12,779.91. Six of the 11 major S&P 500 sectors declined, with health care leading. Banks extended their rally with Goldman Sachs and JPMorgan Chase & Co rising 1.1 percent and 1.5 percent, respectively.

In Commodities Markets oil prices settled up more than $2 on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as rising natural gas prices have some consumers switching to oil. Brent crude futures gained 2.3 percent, to settle at $99.60 a barrel. U.S. West Texas Intermediate crude futures settled up 2.6 percent, to $94.34. Spot gold fell 0.1 percent to $1,789.83 per ounce. Spot silver fell 1.2 percent to $20.32 per ounce, platinum rose 1.7 percent to $957.54, while palladium was up 2.3 percent to $2,291.78.

In European Equity Markets stocks edged higher on Thursday after a strong rally in the previous session on signs of U.S. inflation cooling, while Aegon climbed after the Dutch insurer raised its full-year forecast. The pan-European STOXX 600 index rose 0.1 percent. Among stocks, Aegon jumped 8.9 percent after raising forecasts for full-year operating capital generation and 2021-2023 free cash flow. Zurich Insurance Group added 1.7 percent as it reported a better-than-expected profit gain in the first half. Siemens gained 0.7 percent.

In Bond Markets benchmark U.S. Treasury yields hit a more than two-week high on Thursday as investors bet the U.S. Federal Reserve will press on hiking rates as inflation remains high, even though price pressures are showing signs of abating. Benchmark 10-year note yields reached 2.902 percent on Thursday, the highest since July 22. Two-year note yields rose two basis points to 3.229 percent. The 30-year bond yields rose to 3.189 percent in the secondary market, the highest since July 21.

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