Overview

• Dismal August payrolls and downward revisions pushed markets to fully price a 25 bps Fed cut with a small chance of 50 bps, driving Treasury yields to five-month lows.
• Gold hovered near record levels around $3,588–$3,616 an ounce as rate-cut bets and caution lifted demand for the metal.
• The yen weakened to about 148 per dollar and the Nikkei advanced roughly 1%–1.8% after Prime Minister Shigeru Ishiba resigned, heightening uncertainty over the BOJ’s policy path.
• Indian shares opened firmer and finished modestly higher on GST relief and global cues, with FIIs net sellers and DIIs net buyers according to exchange data.
• Attention turns to U.S. PPI and CPI later this week and India’s September 12 inflation reading ahead of the Fed’s Sept. 16–17 meeting.