Global Markets React to Trade Data and Inflation Pressures

The Japanese yen experienced its largest one-day jump since January, signaling a potential shift away from ultra-low interest rates by Tokyo's monetary policymakers. This caused global bond and stock markets to react, with the Nikkei seeing its sharpest drop since October and Asian stocks finishing lower. The Bank of Japan Governor's comments added to speculation about a change in policy, leading money markets to price in a 40% chance of a shift at the BoJ's final meeting of the year. Japanese government bonds also saw a sharp selloff, while the dollar index fell and the yield on the benchmark U.S. 10-year Treasury note bounced off a three-month low. Oil prices rebounded after a 4% drop, and gold prices ticked higher.