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A Reuters poll shows the median forecast that the Reserve Bank of Australia will keep interest rates unchanged at 3.60% in 2026 (previously forecast as a rate cut to 3.35%).

A Reuters poll of 38 economists unanimously predicts that the Reserve Bank of Australia will keep interest rates unchanged at 3.60% on December 9.

Japan's foreign exchange reserves stood at $1,359.4 billion in November, compared with $1,347.4 billion in the previous month.

Microsoft (MSFT.O) announced on December 4th that it will raise the subscription price of its Office software for business and government customers on July 1, 2026.

Japan's total household spending fell 3.5% month-on-month in October, compared to a forecast of 0.7% and a previous reading of -0.7%.

Japan's household spending in October fell 2.9% year-on-year, compared to a forecast of 1% and a previous reading of 1.80%.

On December 5th, analysts stated that Bank of Japan Governor Kazuo Ueda's emphasis on inflation risks and the danger of a weak yen persuaded Prime Minister Sanae Takaichi to accept his plan to raise interest rates in December. Just last year, Takaichi publicly called a rate hike a "foolish move." This communication appears to have worked: both the market and the new Japanese government received the signal that a small 25 basis point rate hike to 0.75% later this month is almost certain, alleviating concerns that the Bank of Japan might succumb to political pressure and abandon its tightening policy. However, a more pressing issue remains: how will the Bank of Japan communicate its future rate hike path? This task is far more complex than a single rate hike, given the lack of consensus on a reasonable range for the neutral interest rate. Currently, a "fragile truce" exists between the central bank and the government, keeping the bond market tense. Investors are now focused on how Ueda will articulate the pace of subsequent rate hikes.

1. The three major U.S. stock indexes closed mixed. The Dow Jones Industrial Average fell 0.07% to 47,850.94 points, the S&P 500 rose 0.11% to 6,857.12 points, and the Nasdaq Composite rose 0.22% to 23,505.14 points. 3M Inc. fell more than 2%, and UnitedHealth Group fell nearly 2%, leading the decline in the Dow Jones. The Wind U.S. Tech Big Seven Index rose 0.4%, Facebook rose more than 3%, and Nvidia rose more than 2%. Chinese concept stocks were mixed, with Wanwu New Energy rising nearly 9% and Daqo New Energy falling nearly 3%. Market sentiment was cautious ahead of the Federal Reserve's monetary policy meeting next week. 2. European stock markets closed higher across the board. The German DAX index rose 0.87% to 23,899.33 points, the French CAC40 index rose 0.43% to 8,122.03 points, and the UK FTSE 100 index rose 0.19% to 9,710.87 points. Boosted by positive US ADP employment data and expectations of interest rate cuts, global risk sentiment improved, with strong performances in German auto stocks and French technology stocks driving the market upward. 3. US Treasury yields rose across the board. The 2-year Treasury yield rose 3.71 basis points to 3.521%, the 3-year Treasury yield rose 4.78 basis points to 3.545%, the 5-year Treasury yield rose 4.51 basis points to 3.673%, the 10-year Treasury yield rose 3.48 basis points to 4.098%, and the 30-year Treasury yield rose 2.39 basis points to 4.755%. 4. The WTI crude oil futures contract closed up 1.27% at $59.7 per barrel; the Brent crude oil futures contract rose 1.04% to $63.32 per barrel. 5. International precious metals futures closed mixed. COMEX gold futures rose 0.13% to $4237.9 per ounce, while COMEX silver futures fell 1.86% to $57.53 per ounce. White House officials hinted at a possible interest rate cut, reducing the opportunity cost of holding gold. EU policy adjustments and the US adding silver to its list of critical minerals impacted market demand for safe-haven assets. 6. London base metals traded mixed. LME lead rose 0.85% to $2016.00/ton, LME zinc rose 0.65% to $3085.00/ton, LME nickel rose 0.08% to $14885.00/ton, LME aluminum fell 0.33% to $2887.50/ton, LME copper fell 0.47% to $11434.00/ton, and LME tin fell 0.59% to $40540.00/ton. Commodity trader Mercuria plans to withdraw more than 40,000 tons of copper from LME's Asian warehouses.

South Korea's unadjusted current account balance for October was $6.81 billion, compared to $13.4674 billion in the previous month.

According to Asahi Shimbun, Japanese Defense Minister Shinjiro Koizumi will visit the United States in early January.

U.S. Trade Representative Greer: The U.S.-Mexico-Canada Agreement had some problems, and some of those problems have been addressed.

The Federal Reserve stated that the changes could include a significant reduction in checking services, or a substantial, gradual reduction in checking services, thereby lowering operating costs.

The Federal Reserve stated that the adjustments may include investing in infrastructure to maintain and potentially improve check services, but this would lead to higher operating costs.

US Vice President Vance: There are rumors that the European Commission will fine X hundreds of millions of dollars for not participating in the review. The EU should support freedom of speech, not attack American companies over some trash.

The Federal Reserve stated that if each Federal Reserve is to continue providing the same level of checking services in the future, it will need to make large-scale investments in its checking infrastructure.

The Federal Reserve stated that while check usage continues to decline, the availability and usage of digital payment methods are increasing, while check fraud cases are on the rise.

U.S. Treasury Secretary Bessenter will chair a meeting of the Financial Stability Oversight Council on December 11.

On December 5th, Apple announced that Jennifer Newstead will become the company's General Counsel on March 1, 2026, succeeding Kate Adams, who has held the position since 2017. Newstead will join Apple in January as Senior Vice President, reporting to CEO Tim Cook, and becoming a member of Apple's executive team. She will temporarily oversee the government affairs team until Adams retires (expected at the end of 2026); thereafter, the team will be integrated into the Office of the General Counsel, under Newstead's unified leadership. Additionally, Lisa Jackson, Vice President of Environment, Policy, and Social Initiatives, will retire at the end of January 2026. The Environment, Policy, and Social Initiatives team will report to Apple Chief Operating Officer Sabih Khan.

Foreign central banks held $3.829 billion in U.S. Treasury securities in the week ending November 28, compared with $21.399 billion in the previous week.

December 5th - Within two days, Country Garden (02007.HK) essentially finalized its domestic and overseas debt restructuring, achieving an overall debt reduction of over 90 billion yuan. It is understood that Yang Huiyan, Executive Director and Chairman of the company, proposed a "second entrepreneurial phase" at an internal meeting in November, systematically promoting the company's return to normal operations. Analysts believe that Country Garden's operations will truly enter a new phase, enhancing the confidence of homebuyers, upstream and downstream suppliers, and financial institutions, and contributing to a rapid return to normal operations. Country Garden stated that, with the combined effect of the successful domestic and overseas debt restructuring, the overall debt reduction is estimated to exceed 90 billion yuan, greatly alleviating repayment pressure within five years; simultaneously, it is expected to recognize over 70 billion yuan in restructuring gains after the completion of the restructuring.