Keep pulling the thread on South Korea.
Escalating tensions around the Strait of Hormuz have raised fresh fears about persistent global inflation.
The 160 level for the USD/JPY exchange rate is the clear threshold at which Japan's Ministry of Finance will intervene in the currency market.
The U.S. military engaged and fought off Iranian drone attacks while the U.S. Navy was facilitating the passage of two U.S.-flagged merchant vessels through the Strait of Hormuz.
The United Arab Emirates reported that an Iranian drone struck a port in the city of Fujairah.
The 30-year U.S. Treasury yield has risen back above the 5% level.
The Reserve Bank of Australia is widely expected to raise its policy rate, a move that is already priced into the market.
Some parts of the semiconductor industry supply chain are sold out, have enormous demand backlogs, and possess significant pricing power.
The Japanese government has shown clear signs of intervening in currency markets over the past few days to stabilize the yen.
Even in a best-case scenario for the Middle East conflict, the Strait of Hormuz is likely to remain shut, keeping energy markets very tight.
Financial markets are currently pricing in a 70% probability of a Federal Reserve rate hike by April of next year.
Earnings growth for the S&P 500 is expected to be 27% for the current quarter.
The upcoming U.S. midterm elections, which are six months away, create a political motivation for the current administration to get the Strait of Hormuz reopened.