Ian Reynolds
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Overnight
Economic Indicators Released Overnight
Not much to talk about economically apart from the record jobs revision
US Jobs Report Benchmark Revision (September 9, 2025)
Equities remain buoyant
US Equities
Breaking
French Borrowing Costs Top Italy’s in Historic Market Shift [Bloomberg]
India’s RBI Cut US Debt, Bought Gold Even Before Trump’s Tariffs [Bloomberg]
Ishiba's departure gives BOJ pause for thought on rate hikes [Reuters]
Bitcoin
Bear flag strengthens. Plenty of bullish price action intraday but BTC can’t break 113,500.
Commodities
Looks like the strong trend up in Gold ends with the shooting star unless that gets changed in the next few hours. A consolidation is needed anyway before we try for the top of the channel. Could revisit $3,500 breakout from the previous all time high.
Foreign Exchange
No confirmation for the Euro yet. May take a few key numbers such as CPI and PPI this week and maybe the FED next week.
Bonds
Plenty of speculation around IMF bailouts, ministers resigning (2 did) and the general state of the UK economy. Actually, if the Bank of England hadn’t cut 3 times recently, yields might be a lot lower.
10 Year UK Government Bond Yield Daily
Equities
New trend holding and hammer indicates run at 22,500 near term. Tagging the middle of the trend shows clear rejection and short-term momentum is higher.
Interesting
How Tariffs Are Undermining the US Economic Growth Story [Bloomberg]
Bessent Battles Trump Demands, Market Jitters in Fed Chair Hunt [Bloomberg]
Economic Indicators Today
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