On Sept. 24 at the White House, Chinese President Xi told U.S. President Trump that building a constructive, strategically stable China–U.S. relationship is neither a short-term expedient nor achievable overnight. He said departments, sectors and levels in both countries must act and pledged to implement their shared consensus with a 'nail-driving' spirit.

Tickmill analyst Patrick Munnelly said an acceleration in government bond yields could weigh on risk assets. The US 10-year Treasury yield reached 5.148% intraday, the highest since 2007, signaling markets are pricing in further Fed hikes in coming months. LSEG data shows strong growth and inflation concerns have pushed expectations for multiple rate increases by major central banks over the next year. Munnelly warned that if yields keep climbing and refresh cycle highs, risk-asset performance will face pressure even amid positive developments on AI or trade.

Ray Attrill, head of FX strategy at National Australia Bank, said USD/JPY could plausibly revisit 160 but the threat of currency intervention is likely to prevent a clean break above that level. Whether intervention delivers a sustained reversal would depend largely on US participation; further US support would likely require Japan to signal a willingness to tighten policy faster or by more than markets currently expect. If USD/JPY again reaches 160, Bessent's credibility would be tested.