According to Jin10, TDS analysts said the yen's near-term direction will depend on how hawkish the Bank of Japan's forward guidance is next week, as markets have already fully priced in a September rate hike by the central bank. If the guidance does not include an October or December hike, the yen may be sold off and fall back to the 157-160 range, while it could also weaken against higher-yielding emerging-market currencies such as the Indonesian rupiah. Conversely, if Bank of Japan Governor Kazuo Ueda signals any faster-than-quarterly pace of rate hikes, foreign exchange investors are likely to interpret it as hawkish. TDS expects that if post-meeting market pricing for the Bank of Japan's future rate-hike path shows rates reaching around 2% in the second quarter of 2027, the yen's appeal as a funding currency for global carry trades will gradually diminish.

The Hong Kong dollar overnight HIBOR rose to 2.28%, while the one-week rate was 2.46% and the one-month rate was 2.88%, according to ETNet. The two-week HIBOR stood at 2.51%, the two-month rate at 2.97%, the three-month rate at 3.06%, the six-month rate at 3.25% and the one-year rate at 3.59%. The USD/HKD spot rate was quoted at 7.8411/19, while USD/CNY rose to 6.7105/12. The one-year RMB non-deliverable forward was quoted at 6.5526/34, implying a discount of 1,529 points versus spot.

Castle Labs released a research report on September 10 comparing the execution costs of Variational’s swaps product with traditional perpetual contracts. According to ChainCatcher, the report said Variational is currently the lowest-cost venue among listed assets for most trade sizes, with a $1 million trade in the US100 market costing $47. The report said RWA perpetual trading volume rose from less than $100 million in October 2025 to more than $12 billion in August 2026. It now accounts for about 12% to 13% of on-chain perpetual trading volume, after briefly reaching 20% in July. As of the report’s release, total open interest in RWA perpetuals stood at $490 million, with TradeXYZ and Variational together accounting for nearly 90%. Variational’s swaps use RFQ execution and its proprietary liquidity provider Omni, with liquidity sourced directly from traditional finance partners. Instead of funding rates tied to market supply and demand, the product charges a holding cost once at daily close. The first markets launched, including US100, US500, XAU, XAG, and USOIL, have generated $380 million in trading volume since the start of the month, with open interest peaking at $245 million. Swaps now account for more than 50% of Variational’s daily trading volume and over $220 million in open interest.

Wharton School finance professor Jeremy Siegel said he expects the Federal Reserve to raise interest rates next week, citing rising oil prices and long-term bond yields. According to BeInCrypto, Siegel said a hold could hurt Fed Chair Kevin Warsh’s credibility, while a hike could trigger an immediate selloff before bonds and stocks recover. He also said this week’s CPI report could still sway the decision, with Brent crude above $100 a barrel and the 10-year Treasury yield near 4.90%.

Australia and New Zealand Banking Group (ANZ) said the traditional cycle in which Asia's trade surplus flows back to the United States and into U.S. Treasuries is gradually losing effectiveness. According to Sina Finance, senior China strategist Xing Zhaopeng said this means U.S. Treasury yields may need to stay above pre-pandemic levels for a long period to attract enough funds to absorb new supply. Xing said the traditional view is that economies with trade surpluses against the United States eventually invest their dollar income in U.S. Treasuries, and that Asia's excess savings have helped finance the U.S. fiscal deficit. He said that pattern is changing, with more surplus funds no longer flowing mainly into U.S. Treasuries. ANZ said many major Asian economies now use freely floating or managed floating exchange-rate systems, reducing reliance on foreign exchange reserves. It added that much of the dollar income is being retained and allocated by companies, insurers, funds, and other private investors, who demand higher returns and therefore find U.S. Treasuries less attractive. The bank also said more Asian economies are using trade surpluses to expand manufacturing capacity rather than increase financial asset allocations, citing Vietnam and India. It added that more dollar funds generated by trade surpluses are now circulating through Hong Kong and Singapore instead of being directly allocated to U.S. assets.

Nomura said U.S. President Donald Trump's proposal to hand out a $5,000 "dividend" and Treasury Secretary Scott Bessent's intervention in the bond market are weakening investor confidence. According to Sina Finance, Nomura senior rates strategist Andrew Ticehurst in Sydney said the U.S. government's unconventional communication and actions have unsettled bond investors, while heavy government debt and large financing needs have already created a fragile backdrop. He added that AI-related bond issuance and surging global oil prices have made conditions worse, and said Bessent's overnight push to increase bond buybacks disappointed the market. Ticehurst said Trump and Bessent are likely watching the bond market closely, with Trump seeking lower short-term rates and Bessent aiming to reduce long-term rates.

Flipkart-owned digital payments platform Super.money is rolling out artificial intelligence agents that can autonomously shop for products and buy gold, according to Bloomberg. The company is betting the technology will help it stand out from larger rivals.

According to Jin10, domestic futures main contracts mostly fell at the midday close, with lithium carbonate down more than 7%, platinum down more than 5%, palladium down more than 4%, Shanghai silver down more than 6%, Shanghai zinc, Shanghai tin, international copper, and coking coal down more than 3%, Shanghai copper and coke down nearly 3%, and red dates down more than 2%. SC crude oil rose nearly 9%, low-sulfur fuel oil (LU) and fuel oil rose more than 7%, the European shipping line contract rose more than 6%, bitumen rose more than 4%, and paraxylene, benzene, and PTA rose more than 2%.

According to Jin10, the main contracts of China's CSI 300 stock index futures (IF), SSE 50 stock index futures (IH), CSI 500 stock index futures (IC), and CSI 1000 stock index futures (IM) fell 1.73%, 1.76%, 3.54%, and 3.98%, respectively.

Arbitrum investment strategy head Brendan Ma said weekly revenue for Arbitrum rose to third globally, while treasury income exceeded $4.3 million over the past 30 days, with more than half of that coming from the previous week. According to ChainCatcher, revenue so far in Q3 is about 140% higher than in Q2, driven by Arbitrum One fees, Robinhood Chain AEP licensing fees, and treasury income. Arbitrum also said it leads in RWA deployments with more than 4,500, has $1 billion in AUM, and saw 30-day transfer volume rise 124% to $395 billion. Tokenized stocks doubled to more than $200 million, cumulative transactions on Arbitrum One surpassed 2.8 billion, Chain GDP reached $1.8 billion and rose 22% year over year, and perpetual futures open interest peaked at $1.8 billion. In the ecosystem, Carbon's cumulative trading volume exceeded $100 million, T3tris TVL reached $13.4 million, and USD.AI TVL reached $500 million. Venmo, Stripe, Shopify, and Cash App have also supported related USDC or PYUSD functions on Arbitrum.

코인베이스는 솔라나 블록체인에 랩드 비트코인 토큰인 cbBTC를 출시하여 사용자에게 솔라나의 탈중앙 금융 생태계에서 비트코인을 대체할 수 있는 안정적인 대안을 제공하게 되었습니다. 이러한 움직임은 이더리움을 넘어 플랫폼에서 세 번째로 많이 거래되는 자산으로 빠르게 성장하는 솔라나 시장을 공략하려는 코인베이스의 목표를 뒷받침합니다.