#Global bond yields have edged higher after an earlier positive reaction to US inflation data. Weekly US unemployment claims showed a larger-than-typical increase, reinforcing signs of labour-market softness amid moves in sovereign yields. #Bonds #US #FiatNews

#European trading was muted with indices moving only tenths of a percent. Central Europe saw a slightly weaker tone amid geopolitical headlines — reports of Russian drones over Poland and joint Russia-Belarus exercises near Poland and the Baltics weighed on sentiment. #Europe #FiatNews

European and US equity markets showed mixed trade on Friday as US inflation data kept expectations alive for Fed rate cuts, though not necessarily large ones. Labour market signs remain weak; bond yields rose after an initial rally. Euro/dollar trades under 1.1730, gold above $3,640 and the Czech koruna was broadly unchanged. #Markets #Fed #Gold #FiatNews

The U.S. Treasury has urged the G7 and the European Union to impose substantial tariffs on goods from China and India to pressure those countries to stop buying Russian oil, Reuters reported. The Treasury said sales of oil to China and India provide President Vladimir Putin with funds to finance the war in Ukraine. "Chinese and Indian oil purchases finance Putin's war machine and prolong the senseless killing of the Ukrainian people," the ministry said. It added allies should join in imposing "significant tariffs that will be lifted the day the war ends." A diplomatic source cited by AFP said former President Trump urged the EU to set tariffs of 50–100% on Chinese and Indian goods and indicated the U.S. would follow if Brussels agreed. U.S. Treasury chief Scott Bessent told AFP that a U.S.–EU deal on such tariffs would collapse the Russian economy and "force President Putin to come to the negotiating table." #G7 #EU #China #India #Russia #FiatNews

U.S. consumer confidence fell in September for the second consecutive month, slipping to its lowest level since May, according to preliminary results from the University of Michigan survey. The consumer sentiment index dropped to 55.4 points from 58.2 in August, a sharper decline than analysts had expected; a Reuters poll had put the September consensus at 58.0. Consumers signalled rising concerns about business conditions, the labor market and inflation. "Consumers continue to register a number of vulnerable spots in the economy, seeing rising risks for business conditions, the labor market and inflation," said Joanne Hsu, director of consumer surveys at the University of Michigan. Households now expect U.S. inflation to reach 4.8% over the next 12 months. Economists watch these readings closely because consumer spending accounts for more than two-thirds of U.S. economic activity. The International Monetary Fund in late July forecast that U.S. growth would slow to 1.9% this year from 2.8% last year, with only a modest pickup to 2.0% next year. #US #inflation #economy #ConsumerConfidence #FiatNews

Local communities show mixed effects. In Kalundborg, home to a major Novo plant, shopkeeper Michael Rasmussen said the cuts "take a psychological toll" and may delay big purchases, while café owner Shaun Gamble remains optimistic about long‑term demand. The mayor reported no immediate slowdown in construction and municipal planning is being expanded. The episode underscores how concentrated corporate success has become in Denmark: the top firms now account for a far larger share of output than in past decades, raising questions about national exposure to single-company shocks. #NovoNordisk #Orsted #Denmark #windenergy #FiatNews

The Czech Republic’s current account swung to a deep deficit of CZK 66 billion in Q2, the Czech National Bank (ČNB) said, a sharp deterioration from a CZK 6.7 billion deficit a year earlier and following a CZK 96.6 billion surplus in Q1. The central bank’s preliminary data noted that the June reading had shown an even larger surplus of CZK 122.4 billion. #CzechRepublic #CNB #CurrentAccount Goods and services still recorded a surplus of CZK 117.4 billion in Q2, but this was CZK 36.4 billion lower year-on-year. The merchandise trade surplus stood at CZK 94.5 billion (worse by CZK 23.2 billion y/y) and the services surplus at CZK 22.9 billion (down CZK 13.2 billion y/y). Total turnover of goods and services rose 4.6% y/y, with exports up CZK 43.2 billion and imports up CZK 79.6 billion. The ČNB attributed the weaker services balance mainly to higher imports of telecommunication, computer and information services, professional and management consulting, and transport services, and to a year-on-year drop in insurance exports. The primary income balance showed a deficit of CZK 172.9 billion, worsened by CZK 24.2 billion largely due to higher dividends paid to foreign direct investors (CZK 188.6 billion, +CZK 20.4 billion). Secondary income posted a CZK 10.4 billion deficit, improving by CZK 1.3 billion on stronger net EU budget receipts. #FiatNews

Gold surged above $3,650 an ounce this week—almost a 2% weekly gain—after hitting a record on Tuesday, while silver topped $42/oz for the first time since 2011. The move comes as traders priced in at least a 25bp Fed cut at next week’s meeting and possibly two more cuts by year-end following August U.S. consumer prices that rose in line with expectations. #gold #silver #Fed The dollar and 10‑year Treasury yields weakened this week, a combination that typically supports bullion. Gold is up nearly 40% year‑to‑date, outperforming the S&P 500, supported by central bank purchases, ETF inflows (about 25 tonnes added this week per Bloomberg) and geopolitical uncertainty. The metal also exceeded its inflation‑adjusted historical peak from more than 45 years ago. “The buy‑and‑hold strategy at these prices is increasingly risky,” said Priyanka Sachdeva of Phillip Nova. “Investors tend to react to headlines and short‑term moves rather than commit to long‑term holdings, so price action will be lively, but not one‑way.” Analysts note silver could benefit as some investors seek a cheaper entry into rising precious‑metals prices. Source: Bloomberg. #FiatNews

Market attention this afternoon turns to the preliminary University of Michigan consumer sentiment survey for September. The release will cover views on the economy, the labor market and inflation expectations; markets should react only to significant deviations from consensus. #Michigan #FiatNews

Czech koruna largely unchanged this morning: CZK/EUR 24.3552 (-0.0214%) and CZK/USD 20.7835 (+0.1253%) as of 10:50 CET. Other Central European rates noted: HUF/EUR 391.7155, PLN/EUR 4.2601. #CZK #FX #FiatNews