The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

1621 ET - Inflation in Mexico likely picked up in August, led by increases in fresh food prices, while core inflation is seen little changed from the previous month. The consumer price index is expected to have risen 0.25% last month, which would push up the 12-month inflation rate to 3.31% from 3.12% in July, according to analysts in a Wall Street Journal survey. Core CPI, which excludes perishable food prices and energy, is seen rising 0.20% in August, with the annual rate slipping to 3.93% from 3.95% in July. Statistics institute Inegi is scheduled to report August inflation on Wednesday. (anthony.harrup@wsj.com)

1559 ET - The Japanese yen has pushing toward 152 per U.S. dollar. A decisive break below that level could accelerate the currency's ongoing rally, force additional short covering and reignite the yen carry trade unwind risk, LPL Financial's Adam Turnquist says in a note. Such a move would have ripple effects across U.S. Treasurys and other global assets, Turnquist says. The yen has been strengthening since the coordinated U.S.-Japan currency intervention from late July, and has found more support since then thanks to rising expectations that the Bank of Japan will hike rates, he says. Speculators are still net short on the yen, which sets up the potential for forced covering if the currency's upswing continues, Turnquist says. (dean.seal@wsj.com)

1554 ET - Treasury yields rise ahead of the first increased buyback announcement. Investors will gauge tomorrow how aggressive Secretary Bessent will be buying back long-term bonds to ease yields, as the Treasury announces the size of the operation set for Thursday. On Friday, August CPI will help estimate the likelihood of an interest rate increase by the Fed next week. For now, markets price 60% odds of a hike, as uncertainty remains elevated due to reduced guidance. The dollar weakens 0.3% against the yen. The 10-year yield rises 0.022 percentage point to 4.805%, the highest since October 2023. The two-year adds 0.017 points to 4.396%, the highest since January 2025. (paulo.trevisani@wsj.com; @ptrevisani)

1535 ET - The U.S. Treasury will need to impress with the announcement of increased long-term bonds buybacks, PGIM's Robert Tipp says. The department will announce tomorrow morning the size of Thursday's 10-year to 20-year bond buybacks. The original plan was to buy back up to $2 billion, but Secretary Bessent has said it will be at least twice as much, in an attempt to lower long-term yields. "They will need to come in tomorrow and favorably impress the market with their aggressiveness in order to get follow-through," Tipp says. He expects yields to remain with a range for the time being. (paulo.trevisani@wsj.com; @ptrevisani)

1426 ET - Gold futures settle lower as the market watches an escalation in the Middle East conflict while looking to this week's U.S. inflation data for clues on the Fed's possible interest-rate moves. "The Fed is going to matter, but we saw a pretty good dollar rally from the middle of May to late June, and we've seen the dollar come off a fair amount since then," says David Grumhaus, chief investment officer at Duff & Phelps Investment Management. "That has helped with gold this time around." An uptick in ETF flows into gold has also supported the metal, he adds. Front-month gold settles down 0.8% in New York at $4,393.90 a troy ounce. Silver rises 0.4% to $66.297 a troy ounce. (anthony.harrup@wsj.com)

1256 ET - Since the start of the month, more money has been flowing into altcoins--cryptocurrencies outside of bitcoin, which typically commands most of the market capitalization for overall cryptocurrency trading. According to data from CoinMarketCap, the market cap for altcoins is around $1.11T, and CoinMarketCap's "Altcoin Season Index" is currently at 47 out of 100, up big from a score of 32 seen at the start of September. According to CoinMarketCap, "altcoin season" is considered when 75% of the top 100 cryptocurrencies outperform bitcoin over the course of 90 days. Bitcoin is down 0.8%, while ethereum falls 0.2%, XRP is up 2.3%, solana falls 0.4%, and HYPE is off 1.7%. (kirk.maltais@wsj.com)

1247 ET - Heading into the holiday-shortened week, bitcoin ETFs saw net inflows of $1.01B posted in the prior three trading days, according to data from CoinGlass. That includes a net inflow of $730.8M posted on Sept. 3. The influx comes as analysts speculate that investors may be changing they way they think about rates. "If investors continue buying while short-term yields remain elevated, [we say] it would indicate the policy rate is no longer the binding constraint on bitcoin," say analysts with Bitfinex in a note. Bitcoin is down 0.9% to $78,523, while ethereum falls 0.4% to $2,485 and XRP rises 1.1% to $1.41. (kirk.maltais@wsj.com)

1222 ET - Canada PM Mark Carney borrows a famous catchphrase from former European central banker Mario Draghi on his focus in navigating the Canadian economy through heightened trade tensions with the U.S. "We will do whatever it takes for as long as it takes" to help Canadian workers and firms in crossfire of tariffs and retaliatory tariffs between the neighboring countries, says Carney in a YouTube address. Carney is the former governor at both the Bank of Canada and Bank of England, and like Draghi is a Goldman Sachs alumnus. Draghi is credited with turning around the euro-debt crisis last decade when proclaimed the ECB would do "whatever it takes." (paul.vieira@wsj.com; @paulvieira)

1118 ET - New issue premiums on euro-denominated credit have been rising slowly in recent weeks, reflecting elevated volatility in global markets, Societe Generale's Juan Valencia says in a note. Euro credit supply has remained strong in 2026, surpassing the supply at the same period last year by around 7.4%, he says. Although the rising new issue premiums don't signal investors becoming more wary about pricing of new issues, the trend is worth monitoring, Valencia says. "[The rise] is worth following as an ongoing rise in new issue premiums would eventually translate into an overall repricing of the credit complex." (miriam.mukuru@wsj.com)

1111 ET - Home sales slipped 0.6% year-over-year in August and fell sharply from July, Zillow says. Mortgage rates holding above 6.5% kept many buyers on the sidelines. Newly pending listings, a forward-looking measure of demand, fell 2.6% from a year ago, a sign that the slowdown could continue through the remainder of the year. The typical U.S. home value rose 1.3% from a year ago to $369,678, and the monthly mortgage payment on the typical home was 2% higher than last year, Zillow says. Inventory continues to offer a modest bright spot, with 1.41 million homes for sale nationwide, up 3% from a year ago. Homes took a median of 27 days to go pending in August. That's the same as last year and two days longer than July, according to Zillow.(chris.wack@wsj.com)

1052 ET - Privacy coin Zcash set a new all-time high over the long weekend, climbing to $1,246 Sunday. The crypto token has since pared those gains, and is now trading around $1,165. Enthusiasm around Zcash is centered on its "zero-knowledge cryptography," which hides both transacting addresses and the amount being transferred, and could serve to mitigate the power of AI to de-anonymize user addresses on older blockchains like bitcoin. "We expect AI to create new threats to financial privacy, and to motivate a search for new solutions," says Zach Pandl of Grayscale in a recent note. Major cryptocurrencies are mixed, with bitcoin down 1.2% to $78,313, ethereum off 0.7% to $2,477, XRP up 0.6% to $1.41, and solana down 1.1% to $102.96. (kirk.maltais@wsj.com)

1038 ET - Gold futures are lower with the market watching a rise in oil prices and for U.S. inflation data later this week. "The main challenge facing gold at present is the interaction between two opposing forces," Rania Gule of XS.com says in a note. "The first is geopolitical risk, which supports demand for gold as one of the world's most important safe-haven assets. The second is the growing possibility that U.S. monetary policy will remain restrictive, increasing the opportunity cost of holding a non-yielding asset such as gold." Gold for December delivery is off 0.8% in New York at $4,440.60 a troy ounce. Silver is down 0.2% at $66.59 a troy ounce.