CARNEY said Canada and Europe should deepen cooperation on full-spectrum strategic capabilities to secure their strategic autonomy.

Wells Fargo APAC chief strategist in Singapore Chidu Narayanan said the Bank of Japan’s decision lacked hawkish substance and is likely to push USD/JPY higher and depress short-end JPY yields. He noted two of the most dovish board members voted against, which does not support expectations of rapid BOJ tightening. The statement appeared hawkish on the surface but fell short relative to pre-meeting market pricing.

CITIC Securities says the gas-turbine industry is in a new upcycle. Demand for small- and mid-sized turbines is rising faster owing to flexible deployment and shorter construction cycles. Overseas OEM capacity expansion has long lead times, keeping supply tight; bottlenecks in hot-end components and large rotating parts are transmitting upstream. Overseas supply gaps and constrained deliveries of core engines for aviation fuel reform are likely to shift demand to domestic complete-machine and component makers, boosting demand for upstream materials such as high-temperature alloys.