The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.
1104 ET - U.S. corporates have issued the highest amount of euro-denominated investment grade credit since the start of 2026 to date, according to an analysis by Societe Generale. German companies come in second while French issuers take third place. Total euro IG credit supply stands at 274 billion euros ($313 billion) so far this year, Societe Generale says. (miriam.mukuru@wsj.com)
1001 ET - Cleveland Fed President Beth Hammack said there is no conflict in the Fed's dual mandate----inflation is too high while the labor market is right around the level of maximum employment. "Business leaders point to energy costs and supply chain disruptions as factors but also cite pressures from insurance and the AI data center build up," Hammack wrote in a post on LinkedIn. (jessica.coacci@wsj.com)
0952 ET - Euro-denominated credit could get a boost given that investor demand remains strong and issuance is expected to slow in the summer, Societe Generale's Juan Valencia says in a note. Credit spreads could inch tighter gradually given the favorable conditions, he says. The Middle East conflict poses a risk to credit markets, but the outlook stays positive for now, Valencia says. "We think the credit markets will remain resilient for longer." (miriam.mukuru@wsj.com)
0927 ET - The Fed begins its blackout period this weekend, wrapping up a week of speeches from regional Fed Presidents and Fed governors. Vice Chair Philip Jefferson and New York Fed President John Williams expressed that they think policy is well positioned to bring inflation down to the Fed's target. Meanwhile, Fed governor Lisa Cook said she is "ready to act" if the Fed does not see any signs of disinflation soon, but also expressed she's going to give it a little bit more time to see how inflation unfolds. Dallas Fed President Lorie Logan, a voting member on the committee this year, said higher rates would be needed to bring inflation back to target, leaving open the possibility of dissenting at July's meeting if the committee decides to hold rates at their current target range of 3.5%-3.75%. (jessica.coacci@wsj.com)
0905 ET - Treasury yields edge lower as the economy remains solid despite lingering geopolitical tension. President Trump raises doubts about the U.S. electoral process in a televised speech Thursday night. Residential construction accelerates more than expected in June, while the import price index cools down. The University of Michigan consumer sentiment index is expected to tick higher to 50.5 from 49.5, in a WSJ survey. Oil futures rise more than 2%. The WSJ Dollar Index climbs 0.1%. The 10-year yield is at 4.533%, down from yesterday's settle of 4.568%. The two-year slips to 4.143% from 4.155%. (paulo.trevisani@wsj.com; @ptrevisani)
0834 ET - Central-bank buying is expected to provide a price floor for gold despite pressure from expectations of a hawkish Federal Reserve, according to Goldman Sachs. Demand remains strong, with the bank estimating purchases of 81 metric tons in May and a three-month average of 67 tons a month, well above the pre-2022 average of 17 tons. "We continue to see elevated central bank gold accumulation as a multi-year trend, as central banks diversify their reserves to hedge geopolitical and financial risks," Goldman analysts say, forecasting average purchases of 50 tons a month this year and 40 tons a month next year. (giulia.petroni@wsj.com)
0807 ET - Corporate credit supply continues to rise, driven by AI-linked and non-AI debt issuance, Goldman Sachs Research strategists say in a note. Rising debt supply could cause credit spreads to widen, albeit only moderately, the strategists say. "A benign macro backdrop and elevated yields (driving demand) should continue to keep widening at the index level relatively contained." (miriam.mukuru@wsj.com)
0700 ET - Sterling could weaken after its recent rally, which was driven by optimism around Andy Burnham's anticipated appointment as U.K. prime minister following Keir Starmer's resignation, Ebury's Matthew Ryan says in a note. "We see the rally in sterling as somewhat justified, but increasingly like a case of "buy the rumour, sell the fact". The U.K.'s sluggish economic growth and uncertainty around future fiscal policies could leader to a weaker sterling, Ryan says. The euro rises 0.25% to 0.8509 pounds, having dropped to a 13-month low of 0.8453 pounds on Wednesday, LSEG data show. (miriam.mukuru@wsj.com)
0654 ET - Yields on euro-denominated investment-grade credit have increased in line with rising German Bund yields, making euro IG credit favorable, LBBW's Michael Kohler says in a note. The assets carry lower risk than their high-yield equivalents. "We maintain our preference for [euro] investment-grade corporate bonds, which continue to offer the most compelling balance between return potential and risk," Kohler says. (miriam.mukuru@wsj.com)
0631 ET - A fall in U.S. Treasury yields accelerates in European trade as oil prices stabilize. The dollar is stable as safe-haven demand due to concerns about conflict in the Middle East is offset by reduced expectations for U.S. interest-rate hikes. "The U.S, dollar remained broadly stable as investors balanced safe-haven demand against moderating expectations for Federal Reserve tightening," Kudo.com's Konstantinos Chrysikos says in a note. The two-year Treasury yield falls 3.2 basis points to 4.122%, while the 10-year Treasury yield declines 4 basis points to 4.528%, according to Tradeweb. Brent is up 1.8% at $85.77, but stays around recent levels. The DXY dollar index is flat at 100.797. (emese.bartha@wsj.com)
0538 ET - The cost of default protection for euro-denominated credit advances as market sentiment worsens due to concerns about possible overvaluation of AI companies. Investors question how much longer the AI rally can run and are consequently selling technology stocks and lowering their appetite for risky assets. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 2 basis points to 253bps, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
0456 ET - Singapore's nonoil domestic export growth eased in June but that doesn't dent Nomura analysts' outlook for the economy. Overall exports momentum was underpinned by a surge in electronics shipments, in line with still-strong global chip sales and broadening artificial-intelligence-related demand, Euben Paracuelles and Yiru Chen write in a note. That helped counter volatility in pharmaceuticals and gold. Nomura maintains its above-consensus 2026 GDP growth forecast of 4.6%, and sees room for an upward revision. Singapore delivered a better-than-expected 1H economic performance and has multiple engines for near-term growth ahead, including in electronics exports. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
July 17, 2026 11:04 ET (15:04 GMT)
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