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

2112 ET - Australian consumers appear to be responding to cost-of-living pressures by cutting down on cafe visits in favor of homemade coffee. A survey of 680 recent coffee-machine buyers by product-comparison provider Canstar shows 71% of respondents have increased the frequency with which they make their own drinks. More than 20% of respondents cited the rising cost of visiting a cafe as the reason for their purchase. The Australian Bureau of Statistics recently said the cost of out-of-home dining and takeaway food, which captures much of consumers' cafe spending, rose 4.5% over the 12 months to July. Meanwhile, Australia-listed small-appliance maker Breville, which has increased its focus on coffee machines over recent years, has a buy rating from eight of nine analysts surveyed by Visible Alpha. (stuart.condie@wsj.com)

2059 ET - Bank Indonesia's current hold is likely temporary rather than the conclusion of the tightening cycle, UOB economist Enrico Tanuwidjaja says in a note. BI indicates that currency stability remains the primary policy objective, while supporting growth takes a secondary role in the current environment, he notes. BI continues to support domestic demand and credit growth through accommodative macroprudential measures, but remains alert to risks from global financial-market volatility, a strong U.S. dollar and potential upward pressure from energy prices. The rupiah's relative resilience in recent weeks, along with the 100 bps of pre-emptive tightening already delivered, reduces the urgency for an immediate rate increase, he adds. UOB expects two additional 25bp rate hikes in 4Q and 1Q 2027 to bring the policy rate to 6.25%. (yingxian.wong@wsj.com)

2052 ET - Japanese government bond yields are higher following sharp gains in U.S. Treasury yields overnight. The 10-year Treasury yield jumped back over 5% to the highest level since 2007 on Wednesday. Expectations for further rate hikes by the Bank of Japan also continue, supporting bond yields, following the central bank's rate increase on Friday. Investors are focusing on developments in the Iran conflict and their implications for energy prices. The 10-year JGB yield rises 8 basis points to 3.055%, its highest level since August 1996. (kosaku.narioka@wsj.com; @kosakunarioka)

2033 ET - Japanese stocks are higher on their first day of trading this week. Chip-related stocks are leading gains following public holidays in Japan from Monday through Wednesday. Ibiden is up 14%, SoftBank Group is up 7.0%, and Kioxia Holdings is 3.7% higher. The dollar is at 158.21 yen, compared with Y158.31 as of Wednesday 5 p.m. Eastern time. Investors are focusing on the U.S.-China summit meeting, crude oil prices and bond yields. The Nikkei Stock Average is up 1.8% at 66189.99. (kosaku.narioka@wsj.com; @kosakunarioka)

2007 ET - Bitcoin edges up but stays below recent highs. A pattern of rallies and pullbacks has many wondering if the so-called crypto winter is giving way. From a technical perspective, Bitcoin cleared an important Fibonacci resistance this week, suggesting that it's now in a medium-term bullish consolidation zone, supporting further recovery, says Ipek Ozkardeskaya at Swissquote. Glassnode notes positive technical indicators too: Bitcoin is above the True Market Mean and the long-term holder block that held it back for most of 2026. Profit-taking is light, ETF buying is picking up, and altcoins are rising without much new leverage. The next test is $95,000-$97,000. Holding above $84,000 keeps that path open, while a move below that and then below $77,000 would put the recovery in doubt. Bitcoin is up 0.2% at $84,423. (fabiana.negrinochoa@wsj.com)

1727 ET - White House adviser Kevin Hassett is calling the Federal Reserve's recent rate hike into question and criticizing its voting record around big elections. Core inflation is a better indicator of future inflation, and the latest reading came in at around a steady 2%, the National Economic Council Director says at a Georgetown University event. "If core is 2%, then why are we hiking?" Hassett says. He says his friend, Fed Chairman Kevin Warsh, is managing an "unusually partisan" Fed that, around major elections, has historically hiked rates when it would be politically disadvantageous for Trump and cut rates when it would benefit his opponents. "I think there's still some work to do to restore Fed independence," Hassett says. (dean.seal@wsj.com)

1601 ET - A massive U.S. government debt sends Treasury yields to new highs amid mounting concerns about inflation, rising interest rates and the Middle East conflict. An auction of $70 billion in five-year notes clears a yield of 5.033%, the highest in two decades, amid indications of soft demand. Futures markets price in 67% odds of a hike in October, up from 55% Tuesday, according to CME. Brent crude rallies 4% to $103 a barrel. The WSJ Dollar Index rises 0.5% to 96.75, its highest level since July. The 10-year yield rises 0.147 percentage point to 5.113, the highest since 2007. The two-year adds 0.118 points to 4.893%, highest since May 2024. (paulo.trevisani@wsj.com; @ptrevisani)

1539 ET - Natural gas futures post back-to-back gains with the October contract settling above $3 per million British thermal units after numerous failed attempts recently. With the market in a shoulder month, moves to $3 tend to prompt a pullback, says long-time natural gas trader John Woods. "Every time you get up there you take some profit because you don't want to be long, even at $2.95 and above because you have no push after that," he says. "This pattern has been going on for a good month." Nymex gas settles up 2% at $3.023/mmBtu, its highest close since July 8. (anthony.harrup@wsj.com)

1524 ET - Revisions to Canada's population numbers push annual growth to 0.5% as of 2Q and erase what had looked to be year-over-year declines since early 2026. Royal Bank economist Rachel Battaglia says the changes significantly impact how some economic data looks in hindsight. For example, per-capita GDP growth looks less firm over the last year with the upward population revisions. The changes may also impact the outlook for measures of total GDP growth and employment growth, Battaglia adds. The economist says the broader economic narrative doesn't change materially, yet more modest population declines in recent quarters could mean more aggressive slowdowns in future. (robb.stewart@wsj.com; @RobbMStewart)

1521 ET - Canadian demographics are again clouding the economic picture for the country, National Bank's Daren King and Matthieu Arseneau say. Rapid changes to immigration policies in recent years haven't only made the future trajectory of the population much more volatile, but fresh revisions to population numbers show that even recent history may be subject to change, the economists say. Data shows the population expanded by 189,425 people or 0.5% on-year in 2Q, the lowest number since World War II and the smallest percentage gain since WWI. Revisions now erase what had looked to be a decline in population in the preceding quarters. And since population is the implicit denominator in many economic analyses, economists will need to assess implications including whether recent real GDP growth is as robust in the context of a population actually growing. (robb.stewart@wsj.com; @RobbMStewart)

1509 ET - Live cattle futures on the CME settled up 1.2% to $2.22175 a pound, resuming an upward trend seen in cattle futures in the past month. Cattle has been gradually pushing higher after finding a low around $2.10 a pound in early September. That comes even though the U.S.-Mexico border has been gradually reopening after being closed in an effort to control the spread of New World screwworm. Cattle is also trending higher ahead of Friday's Cold Storage report from the USDA. Lean hog futures settle the day down 0.9% to 70.375 cents a pound. (kirk.maltais@wsj.com)

1502 ET - PG&E is dealing with a growing risk from inaction on wildfire liability reform, UBS analysts say, downgrading the stock to neutral from buy. While the analysts expect work on wildfire legislation to continue, there hasn't been action. California Governor Gavin Newsom has spoken about a potential special session on AI, but hasn't mentioned something similar for wildfire reform, the analysts say. They see the delay in a wildfire reform resolution as a negative for PG&E's performance. UBS cuts its price target on the stock to $14 from $19, and lowers its estimate for 2028 earnings per share to $1.90 from $1.95.