Financial Markets Update 21 November 2025
Risk-off everywhere
News Overnight
BLS spewed out a load of old data yesterday including September’s Nonfarm Payroll, which came in higher than expected although the Unemployment Rate rose to 4.4%.
Nvidia results were great but the market didn’t rally too much and by the end of the day all Indexes were significantly lower.
Japanese rates kept rising as the row with China deepened
It’s all risk-off
Breaking
US tech stocks slide as jolt of volatility hits Wall Street [FT]
Japan’s borrowing costs at highest in decades on fears of public spending surge [FT]
Top Fed official warns on risk hedge funds pose to $30tn Treasury market [FT]
China Weighs New Property Stimulus Package as Crisis Lingers [Bloomberg]
Fed Fractures Deepen as Barr Signals Inflation Concern [Bloomberg]
Global crypto rules for banks need reworking, says Basel chair [FT]
For Free Subscribers
DXY Update 21 November 2025
DXY put in a pretty solid green candle yesterday and has continued higher today. Let’s see if we can confirm back in the uptrend because if we do, there could be fireworks to the upside.
Japan 10 Year Yield Update 21 November 2025
In 2 years 10 year Japanese yields have risen from 0.165% to 1.8%. Big move but rate structure is so broken by fiscal policy errors (40 years). Anyway it’s our opportunity. Yields still moving higher along with weakness of the currency.
For Paid Subscribers
Bitcoin Update 21 November 2025
We’re almost getting bullish here but won’t be buying until US stock markets outlook is clarified. Expecting the selling to slow now. Monthly, below, with uptrend support at 82k looks an awesome small entry point.
Economic Indicators Today
Limit Up! Podcast 3 November 2025
