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China’s significant stimulus measures have helped global Stocks stay near record highs, with the yen strengthening against the dollar as Japan’s former defense minister Shigeru Ishiba is poised to become the next prime minister.

In Europe, the benchmark index reached an all-time high, with German Stocks rising between 0.1% and 0.4%. The dollar weakened against the yen following Ishiba’s victory, as he supports the Bank of Japan’s policy normalization.

Global Stocks reached new peaks, driven by a rebound in Chinese shares as Beijing announced plans to boost economic growth. Chinese blue chips and Hong Kong Stocks saw significant gains, with expectations for further upside in Chinese Stocks.

Commodities also performed well, with iron ore prices, gold, and silver all rising. However, oil faced heavy losses amid reports of Saudi Arabia abandoning its $100-a-barrel price target.

The euro fell against the dollar as Eurozone Inflation data fueled expectations for more rate cuts by the European Central bank (ECB). Money markets are pricing in a high chance of an ECB rate cut in October.

U.S. Treasury yields remained steady, with markets adjusting rate hike expectations following positive jobless claims data. Investors are awaiting the core PCE price index to gauge the Federal Reserve’s next move on Interest rates.

Overall, global markets are reacting to political developments in Japan, economic stimulus measures in China, and Inflation data in Europe and the U.S. as central banks consider their next steps.

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