BlockBeats News, September 5th. This week, the global market's core themes revolved around the Fed's policy expectations, yen strength, geopolitical conflicts, and a global bond market sell-off.

In the U.S., August non-farm payrolls increased by 162,000, far exceeding the expected 56,000, leading the market to reconsider the possibility of a Fed rate hike in September. Traders once again raised their bets on a September rate hike to over 60%. Meanwhile, Trump continued to publicly pressure the Fed for a rate cut, further highlighting the internal hawk-dove divide within the Fed.

The yen became another major focus this week. The USD/JPY pair once approached 160, then quickly fell back to around 155. Initially, the market speculated that the Japanese government might intervene in the forex market again, but there is currently insufficient evidence. In contrast, expectations for a BOJ rate hike have significantly increased, with Kuroda indicating that the September meeting will discuss whether to hike rates. The market is gradually shifting from "intervention trades" to "rate hike trades."

The U.S.-Iran conflict escalated further this week, with the U.S. launching a new round of strikes against Iran, while Iran carried out consecutive attacks on U.S. military targets in Jordan, Bahrain, Erbil in Iraq, Kuwait, and the UAE, raising the risk of a disruption in the Strait of Hormuz's oil supply once again entering market pricing. WTI crude oil briefly surpassed $90, Brent crude rose above $95.

The global bond market sell-off continued to spread, with Japan's 10-year government bond yield rising above 3%, hitting a new high since 1996. U.S., UK, and European long-term bond yields all rose simultaneously, as funds began to reassess the global rate equilibrium. Meanwhile, Indonesia's largest nickel industrial park faced a water shortage due to El Niño, causing a possible 30% to 40% decline in some nickel smelting and related facility production.

In the tech sector, on the day of GPT-6 Astra's release, AI services such as OpenAI, Anthropic, and xAI experienced successive outages, once again drawing attention to AI infrastructure stability. Tesla officially launched its Cybercab autonomous ride-hailing service in Austin, further advancing the commercialization of Robotaxi.

Regarding the U.S. stock market, this week saw a market movement of "rate shock – bottom fishing recovery – strong non-farm payroll pressure." The S&P 500 index rose by 0.09%, the Nasdaq rose by 0.4%, and the Dow fell by 0.27%. Gold fell by 0.52% this week, closing at $4,431 per ounce; the U.S. Dollar Index fell by 0.53%, closing at 99.16.