🇺🇸 WHAT TO WATCH TODAY — U.S. MARKETS 6:30 PM ET Thu. — 🇯🇵 Japan CPI ~10:30–11:30 PM ET Thu. — 🇯🇵 BOJ Rate Decision 2:00 AM ET — 🇬🇧 UK Retail Sales 2:30 AM ET — 🎙️ BOJ Governor Ueda 9:15 AM ET — 🇺🇸 Industrial Production 9:30 AM ET — 🏦 Fed Vice Chair Michelle Bowman 10:00 AM ET — 🇺🇸 Leading Economic Index All Day — ⚡ Quarterly Options/Futures Expiration 🔥 BOJ — KEY EVENT The BOJ is expected to raise rates 25bp to 1.25%. With a hike largely anticipated, the bigger catalyst will be Ueda’s guidance on further tightening. Hawkish BOJ → JPY/JGB yields ↑ → carry trades pressured → global yields potentially ↑ 🇺🇸 INDUSTRIAL PRODUCTION August industrial production and capacity utilization arrive at 9:15 AM ET. A strong print could reinforce the higher-rate narrative following this week’s Fed decision. 🏦 FED — BOWMAN Michelle Bowman speaks at 9:30 AM ET — the first scheduled Fed policymaker appearance after the FOMC. Markets will listen closely for any clues on the post-FOMC rate path and inflation outlook. ⚡ QUARTERLY EXPIRATION Friday is a major derivatives expiration session. Expect potentially elevated volume and positioning-driven volatility, particularly around the open and closing auction. 🛢️ OIL No EIA inventory report today, but crude remains an important inflation and rates driver.(彭博社)