The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1110 ET - Weakness in bitcoin continues, with the cryptocurrency dipping to as low as $58,300 earlier today before rebounding back towards $60,000. It's currently down 2% at $59,687, according to LSEG data. On Wednesday, net outflows from bitcoin ETFs surged to $469 million from $113.8 million the day prior, according to data from CoinGlass. The crypto analytics platform also says $660.5 million of liquidations occurred in the past 24 hours, with roughly $541 million of that being in long positions. Ethereum is down 2.6% to $1,569, and XRP is off 3.5% to $1.03. (kirk.maltais@wsj.com)
0851 ET - Marianne Lake, chief executive of JPMorgan Chase's Consumer and Community Banking unit, has decided to retire after more than 25 years with the company. Lake had long been considered a potential successor for Chief Executive Jamie Dimon. Her departure comes as JPMorgan names Doug Petno and Troy Rohrbaugh as co-presidents of the company. Petno will additionally become sole CEO of JPMorgan's Commercial & Investment Bank, while Rohrbaugh will assume the top role of the company's Consumer and Community Banking arm, which was run by Lake. JPMorgan says Lake will work with Rohrbaugh and other senior executives over the coming weeks to help ensure a smooth transition. (connor.hart@wsj.com)
0845 ET - JPMorgan Chase names Doug Petno and Troy Rohrbaugh as co-presidents of the company, laying the groundwork to find candidates to succeed Chief Executive Jamie Dimon. "The changes announced today mark an important step in our Board's thoughtful process around succession planning and development of our top leaders," Dimon says in a statement. In addition to their new roles, Petno will become sole CEO of JPMorgan's Commercial & Investment Bank, and Rohrbaugh will assume the top role at Consumer and Community Banking. "The decision to elevate Doug and Troy to Co-Presidents and heads of the company's two largest businesses reflects the Board's confidence in their extraordinary leadership capabilities, business performance, relationships, experience and commitment to always doing the right thing," Dimon says. (connor.hart@wsj.com)
0533 ET - Castlelake's latest 650 pence-a-share proposal for easyJet highlights the airline's underlying value, RBC Capital Markets analyst Ruairi Cullinane says in a research note. The investment firm is seeking limited access to company information to potentially improve its proposal and address concerns over execution. EasyJet's shares had traded well below historical valuation levels before the takeover interest surfaced, despite its strong asset base, including its aircraft order book, airport slots and growing holidays division, Cullinane says. Earnings are expected to remain subdued in fiscal 2026 but initiatives such as reducing winter losses, increasing aircraft capacity and expanding the holidays business could support a recovery, the analyst says. Even after recent gains, easyJet's valuation remains below long-term averages, he adds. Easyjet shares trade 6.7% higher at 576 pence. (nina.kienle@wsj.com)
0431 ET - Consumer inflation, excluding volatile fresh food prices, in the Tokyo metropolitan area likely rose 1.6% in June from a year earlier, according to a poll of economists by data provider Quick. That would be higher than May's 1.3% increase but below the Bank of Japan's 2% target. Still, higher oil costs are expected to feed through to consumer prices with some time lag, economists say. BOJ Deputy Gov. Ryozo Himino recently said that the impact of surging crude prices will likely start appearing in consumer prices more clearly around summer. Tokyo's consumer price data is due Friday. (megumi.fujikawa@wsj.com)
0418 ET - Singapore's core inflation is likely to continue accelerating and peak at over 3% on year in early 2027 before easing, ANZ Research's Khoon Goh says in a report. Inflation remains moderate despite higher oil prices. There has also been no signs of a broader spillover into other prices yet, despite rising petrol and other energy-related costs. However, inflation will likely pick up in the coming months, as there is a lag effect from rising oil prices. ANZ expects Singapore's core inflation to average 2.1% for both 2026 and 2027. (amanda.lee@wsj.com)
0418 ET - The cost of capital and regulatory pressure surrounding UniCredit's takeover offer for Commerzbank could force the Italian lender to launch a new offer or reduce its stake, analysts at Baader write in a note. Since the option of reducing its stake is hedged, there is limited downside risk, the analysts say. UniCredit didn't initially intend to take control of Commerzbank, and there will be a significant fall in return on investment, with UniCredit required to take control of the other bank. Shares in UniCredit are up 0.54% at 78.18 euros. (aimee.look@wsj.com)
0119 ET - Danske Bank's Federal Reserve call--interest-rate hikes in December 2026 and March 2027--implies that it expects U.S. rates to rise over the coming year, senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen say in a note. Danske expects the two- and 10-year U.S. dollar swap rates to rise to 4.15% and 4.50%, respectively, over the coming year. "Additionally, we expect the worsening of the U.S. debt burden to continue to exert upward pressure on the long end of the curve," they say. The risk is that the Fed delivers rate hikes more quickly and to a greater extent than Danske analysts currently have priced in their forecast, they say. (emese.bartha@wsj.com)
0040 ET - JGBs mostly pare yield declines in Tokyo's afternoon session following the Japanese Finance Ministry's auction today of 20-year government bonds drew weak demand. The bid-to-cover ratio, a measure of demand in bond auctions, stood at 2.97, below 4.01 at May's 20-year sale. In another indication of soft appetite, the auction's tail, or gap between the average accepted price and the lowest, stood at 0.24 yen, up from 0.04 yen at the prior 20-year auction. Five-year JGB yield is down 1.5 bps at 1.895%, compared with 2 bps lower before auction's outcome. 10-year yield is 3 bps lower at 2.635%, versus prior decline of 4 bps. (ronnie.harui@wsj.com)
0029 ET - Markets are likely underestimating the risk that inflation proves more durable as manufacturing activity recovers globally and raw material costs continue to rise, says Vincent Chung at T. Rowe Price. "While investors continue to look to AI-driven productivity gains as a potential offset to inflationary pressures, those benefits are likely to take time to materialize," says the co-portfolio manager in a note. In the meantime, markets may face periods of volatility as they reassess the outlook for growth, inflation and interest rates. Chung favors shorter-duration fixed income exposures in such an environment, including high-quality global high yield bonds and select emerging market credits. Inflation-linked bonds can also play an important role as a portfolio diversifier, he says. (monica.gupta@wsj.com)
0015 ET - MSCI's delay in its decision on whether Indonesia maintains its status as an emerging market is unlikely to lead to major foreign inflows, Maybank Sekuritas analysts say in a report. "The absence of an immediate escalation provides near-term relief and reduces the risk of a significant negative sentiment shock," they add. However, investors will likely wait for greater visibility from MSCI's final assessment in November before deciding if they want to increase their exposure in Indonesia. The index provider could also reassess the effectiveness of Indonesia's market reforms then.(amanda.lee@wsj.com)
2319 ET - The Australian dollar's bias against its U.S. counterpart remains negative on the charts, says UOB's Quek Ser Leang. The Australian dollar has fallen sharply this week, with the low so far at US$0.6883, the strategist notes. Given the strong downward momentum, a break of the Australian dollar below US$0.6835 seems increasingly likely, he says. The next level to watch below US$0.6835 is the September 2025 high of US$0.6707, the strategist adds. The Australian dollar is 0.1% lower at US$0.6893, LSEG data show. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 25, 2026 12:20 ET (16:20 GMT)
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