Saudi Exchange (Tadawul) approved SNB Capital to provide market-making services for Arab National Bank shares.

TD Securities strategists Gennadiy Goldberg and Molly Brooks say US long-term Treasury yields look attractive on both real and nominal measures but investor confidence is weak, leaving yields vulnerable to further near‑term upward pressure. They say relieving that pressure would require one or more of: the Fed delivering more credible messaging on inflation; the US Treasury signaling reduced long-term issuance; improved investor demand; a slowdown in investment‑grade supply; or renewed growth concerns. The US Treasury said on Wednesday it will increase buybacks of long-dated Treasuries to curb a rapid rise in borrowing costs.

USD/JPY briefly fell to around 158 on Wednesday after the U.S. Treasury said it would expand long-term Treasury repurchase operations, lifting option implied volatility. Traders bought strikes as low as 157.00 to hedge further USD/JPY downside. The one‑month 25‑delta risk reversal rose from 1.85 to 2.0, widening the premium for yen calls over puts. With spot back in the mid‑to‑high 158s, vol sellers have re-entered and realized volatility remains low. Spot still below 160 reduces near‑term risk of Japanese FX intervention. Despite increasing bets on accelerated BOJ tightening, investors have not formed a firm expectation of sustained yen strength; option flow suggests the market remains unconvinced the yen can extend gains.