Phoenix Investment Bank (Labuan) Ltd.Market CompassPHOENIX · ISSUE ZERO

PHOENIX MARKET COMPASS · ISSUE ZERO

Policy decisions reshape the funding outlook

The Fed raised its policy range, the BoE held, and the BoJ announced a higher target effective next week. New U.S. retail-sales and UK and Malaysian inflation releases add context to this Friday update, prepared as of 19:35 MYT before the U.S. session.

Week ending 18 September 2026Snapshot 18 September 2026 at 19:35:49 MYT (UTC+8)

Changes since 11 September 2026. This Friday snapshot uses the latest verified completed observations available at its cut-off, with unfinished sessions excluded. Earlier dates show week-to-date or lagged comparisons; they are not final Friday closes.

Open Phoenix Global MarketsPhoenix Economic Calendar
In this edition

Phoenix Global Markets

Sourced market facts · Completed source observations and changes since the previous Friday. Check each observation date: the global Friday close is not yet complete. Index construction and currency vary; compare conventions before drawing conclusions.

Equities

Observation methodology for this dataset

Equities · 11–18 September 2026
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
WORLDUSD gross-return index points529.99528.22-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
S&P 500USD7,656.987,637.76-0.3%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
NASDAQUSD26,333.0426,418.30+0.3%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
DOW JONESUSD52,573.2951,778.04-1.5%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
RUSSELL 2000USD2,903.942,874.63-1.0%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
S&P/TSXCAD35,697.5035,874.30+0.5%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
FTSE 100GBP10,650.4010,816.10+1.6%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
DAXEUR25,568.5625,716.71+0.6%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
CAC 40EUR8,179.778,186.93+0.1%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
STOXX EUROPE 600USD gross-return index points504.66501.94-0.5%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
NIKKEI 225JPY64,011.3465,018.95+1.6%Friday to Friday · 11–18 Sep 2026Method 2Yahoo Finance
HANG SENGHKD24,805.6324,750.78-0.2%Friday to Friday · 11–18 Sep 2026Method 2Yahoo Finance
SHANGHAICNY3,888.113,911.87+0.6%Friday to Friday · 11–18 Sep 2026Method 2Yahoo Finance
NIFTY 50INR23,398.1023,346.40-0.2%Friday to Friday · 11–18 Sep 2026Method 2Yahoo Finance
ASX 200AUD8,741.208,731.20-0.1%Friday to Friday · 11–18 Sep 2026Method 2Yahoo Finance
KOSPIKRW6,909.916,894.23-0.2%Friday to Friday · 11–18 Sep 2026Method 2Yahoo Finance
IBOVESPABRL187,207.00185,992.00-0.6%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
EMERGINGUSD gross-return index points300.89294.59-2.1%Since 11 Sep · as of 17 Sep 2026Method 1STOXX

Observation methodology

  1. STOXX end-of-day USD gross-return index. Partial-week change uses the same index series, not an intraday quote.
  2. Yahoo Finance published daily index Close, exchange-local date. Only completed sessions are used. Index methodologies differ; not all series are price-return indexes.

FX

Observation methodology for this dataset

FX · 11–18 September 2026
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
EUR/USDUSD per EUR1.15921.1481-1.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
GBP/USDUSD per GBP1.35081.3376-1.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
USD/JPYJPY per USD154.0373155.6920+1.1%Since 11 Sep · as of 17 Sep 2026Method 1ECB
USD/SGDSGD per USD1.26791.2753+0.6%Since 11 Sep · as of 17 Sep 2026Method 1ECB
USD/HKDHKD per USD7.84207.8452+0.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
USD/MYRMYR per USD4.07334.0849+0.3%11–18 Sep 2026 · BNM reference fixingMethod 2Bank Negara Malaysia
USD/THBTHB per USD33.065033.3046+0.7%Since 11 Sep · as of 17 Sep 2026Method 1ECB

Observation methodology

  1. ECB euro reference rates cross-calculated consistently into the displayed USD pair. Information reference, not transaction rates. Quoted-pair movement and named currency performance against USD are distinct. Change shows quoted-pair movement.
  2. Bank Negara Malaysia Kuala Lumpur USD/MYR Reference Rate: volume-weighted interbank spot transactions during 08:00–15:00 Kuala Lumpur time, scheduled for publication at 15:30 MYT (UTC+8). This is a daily reference fixing, not a U.S. closing rate. Change shows USD/MYR quoted-pair movement: (current / prior − 1) × 100. BNM Kuala Lumpur USD/MYR Reference Rate restored on 21 September 2026. Both comparison dates use this BNM series; superseded ECB cross-rate values are not mixed into this comparison. The 18 September snapshot cut-off and historical editions remain unchanged. Source values were retrieved retrospectively on 21 September; 15:30 MYT is the scheduled publication time, not a verified first-publication timestamp.

Rates

Observation methodology for this dataset

Rates · 11–18 September 2026
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
US 2Ypercent4.63%4.67%+4 bpSince 11 Sep · as of 17 Sep 2026Method 1U.S. Treasury
US 10Ypercent4.96%4.94%-2 bpSince 11 Sep · as of 17 Sep 2026Method 1U.S. Treasury

Observation methodology

  1. U.S. Treasury daily par yield derived from indicative bid-side quotations at or near 3:30 p.m. ET; not an executed price.

Commodities

Observation methodology for this dataset

Commodities · 11–18 September 2026
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
GOLD DECUSD$4,408.90$4,399.70-0.2%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
SILVER DECUSD$64.554$65.470+1.4%Since 11 Sep · as of 17 Sep 2026Method 2Yahoo Finance
BRENTUSD per barrel$118.06$130.80+10.8%Since 11 Sep · as of 15 Sep 2026Method 3EIA

Observation methodology

  1. Yahoo Finance completed daily Close for continuous futures ticker GC=F (Gold Dec 26). Not a spot benchmark; contract rolls may affect comparisons. Current incomplete daily bar excluded. Source recheck: 11 September prior is $4,408.90, versus $4,366.20 retained in the previous edition. Fresh continuous-ticker and named December 2026 contract endpoints agree on both dates; the cause of the former discrepancy is unconfirmed. The historical edition is unchanged.
  2. Yahoo Finance completed daily Close for continuous futures ticker SI=F (Silver Dec 26). Not a spot benchmark; contract rolls may affect comparisons. Current incomplete daily bar excluded.
  3. EIA Europe Brent spot-price FOB daily observation, not a futures settlement or a closing price. Latest published observation is delayed.

ASEAN

Observation methodology for this dataset

ASEAN · 11–18 September 2026
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
FBM KLCIMYR1,686.741,665.56-1.3%Friday to Friday · 11–18 Sep 2026Method 1Yahoo Finance
STRAITS TIMESSGD5,695.935,656.11-0.7%Friday to Friday · 11–18 Sep 2026Method 1Yahoo Finance

Observation methodology

  1. Yahoo Finance published daily index Close, exchange-local date. Only completed sessions are used. Index methodologies differ; not all series are price-return indexes.

Phoenix Equity Map

Selected regional benchmarks, U.S. sector ETF proxies and global companies.

Regional benchmarks

Observation methodology for this dataset

Regional USD gross-return benchmarks
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
STOXX Global 1800USD gross-return index points529.99528.22-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX North America 600USD gross-return index points733.66731.49-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX Europe 600USD gross-return index points504.66501.94-0.5%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX Asia/Pacific 600USD gross-return index points294.22293.39-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX Emerging Markets 1500USD gross-return index points300.89294.59-2.1%Since 11 Sep · as of 17 Sep 2026Method 1STOXX

Observation methodology

  1. STOXX end-of-day USD gross-return index. Partial-week change uses the same index series, not an intraday quote.

U.S. sector ETF proxies

Observation methodology for this dataset

Sector ETF closing-price comparisons
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
XLK · TechnologyUSD187.67188.06+0.2%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XLF · FinancialsUSD57.2555.88-2.4%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XLP · StaplesUSD83.3883.49+0.1%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XLY · DiscretionaryUSD112.96111.39-1.4%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XLE · EnergyUSD65.1464.48-1.0%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XLI · IndustrialsUSD172.37169.01-1.9%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XLV · Health careUSD165.36168.81+2.1%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance

Observation methodology

  1. Yahoo Finance daily Close field (unadjusted), exchange-local observation date; only completed sessions are used. Not adjusted total return.

Selected global companies

Observation methodology for this dataset

Selected company closing-price comparisons
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
MSFTUSD495.63497.75+0.4%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
AAPLUSD332.27337.00+1.4%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
AMZNUSD256.78251.19-2.2%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
JPMUSD356.23349.31-1.9%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
NVDAUSD218.29219.34+0.5%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
GOOGLUSD338.50347.33+2.6%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
TSLAUSD365.44366.20+0.2%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance
XOMUSD165.99163.27-1.6%Since 11 Sep · as of 17 Sep 2026Method 1Yahoo Finance

Observation methodology

  1. Yahoo Finance daily Close field (unadjusted), exchange-local observation date; only completed sessions are used. Not adjusted total return.

Sector ETFs and companies show price returns, not total returns. These are selected indicators, not a complete market universe or recommendations.

Phoenix Market Drivers

U.S. policy

Fed raises its policy range to 3.75–4.00%

Sourced fact · 16 September 2026
The Federal Reserve announced a 25-basis-point increase in its target federal funds range to 3.75–4.00%. All 12 voting members supported the decision.

Phoenix interpretation: Higher dollar funding costs warrant renewed attention to refinancing dates and floating-rate exposures.

Federal Reserve

UK policy

BoE holds at 3.75% in a split decision

Sourced fact · 17 September 2026
The Bank of England kept Bank Rate at 3.75%. Six members supported holding; three favoured an increase to 4.00%. The meeting ended on 16 September and the decision was published on 17 September.

Phoenix interpretation: A hold does not remove rate uncertainty. Budget assumptions should allow for more than one policy path.

Bank of England

Japan policy

BoJ announces a higher rate target from 24 September

Sourced fact · 18 September 2026
The Bank of Japan voted 7–2 for an overnight call-rate target of around 1.25%, up from around 1.00%. The new guideline takes effect on 24 September.

Phoenix interpretation: Separate the announcement from its effective date when assessing yen funding and cross-border cash flows.

Bank of Japan

U.S. demand

U.S. retail sales rebound in August

Sourced fact · 16 September 2026
Advance U.S. retail and food-services sales reached $773.9 billion in August, up 1.2% from July after seasonal adjustment. These figures are not adjusted for price changes.

Phoenix interpretation: Stronger sales values support the spending picture, but they do not establish an equivalent increase in real consumption.

U.S. Census Bureau

UK inflation

UK annual CPI inflation rises to 3.1%

Sourced fact · 16 September 2026
UK CPI inflation was 3.1% in the year to August, compared with 2.9% in July. Prices rose 0.5% over the month. CPIH, which includes owner-occupier housing costs, was 3.3% year on year.

Phoenix interpretation: Keep CPI and CPIH definitions separate when comparing inflation with wage, pricing and contract assumptions.

Office for National Statistics

Malaysia inflation

Malaysia reports 1.9% inflation for August

Sourced fact · 18 September 2026
DOSM reported Malaysian inflation of 1.9% in August. The all-items CPI index was 137.5, compared with 134.9 in August 2025, confirming the annual comparison.

Phoenix interpretation: The national average is a useful baseline; individual businesses should also examine their own input and selling-price mix.

Department of Statistics Malaysia

Data snapshot

Observation methodology for this dataset

Complete core cross-asset readings
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
STOXX Global 1800USD gross-return index points529.99528.22-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX North America 600USD gross-return index points733.66731.49-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX Europe 600USD gross-return index points504.66501.94-0.5%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX Asia/Pacific 600USD gross-return index points294.22293.39-0.3%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
STOXX Emerging Markets 1500USD gross-return index points300.89294.59-2.1%Since 11 Sep · as of 17 Sep 2026Method 1STOXX
US 2Ypercent4.63%4.67%+4 bpSince 11 Sep · as of 17 Sep 2026Method 2U.S. Treasury
US 10Ypercent4.96%4.94%-2 bpSince 11 Sep · as of 17 Sep 2026Method 2U.S. Treasury
GOLD DECUSD$4,408.90$4,399.70-0.2%Since 11 Sep · as of 17 Sep 2026Method 3Yahoo Finance
SILVER DECUSD$64.554$65.470+1.4%Since 11 Sep · as of 17 Sep 2026Method 4Yahoo Finance
BRENTUSD per barrel$118.06$130.80+10.8%Since 11 Sep · as of 15 Sep 2026Method 5EIA

Observation methodology

  1. STOXX end-of-day USD gross-return index. Partial-week change uses the same index series, not an intraday quote.
  2. U.S. Treasury daily par yield derived from indicative bid-side quotations at or near 3:30 p.m. ET; not an executed price.
  3. Yahoo Finance completed daily Close for continuous futures ticker GC=F (Gold Dec 26). Not a spot benchmark; contract rolls may affect comparisons. Current incomplete daily bar excluded. Source recheck: 11 September prior is $4,408.90, versus $4,366.20 retained in the previous edition. Fresh continuous-ticker and named December 2026 contract endpoints agree on both dates; the cause of the former discrepancy is unconfirmed. The historical edition is unchanged.
  4. Yahoo Finance completed daily Close for continuous futures ticker SI=F (Silver Dec 26). Not a spot benchmark; contract rolls may affect comparisons. Current incomplete daily bar excluded.
  5. EIA Europe Brent spot-price FOB daily observation, not a futures settlement or a closing price. Latest published observation is delayed.

LBMA Gold Price PM: 18 September update unavailable. The latest returned source snapshot is still dated 2026-09-11. Its -0.66% historical one-week return is not a return for this edition. Source: World Gold Council. Price levels are not provided by that endpoint. This spot benchmark differs from gold futures above.

Phoenix FX Monitor - G20

EUR, GBP and AUD quotes are USD per currency. Other quotes are currency units per USD. Displayed change measures the named currency against USD; it is not always the quoted-pair percentage change.

Observation methodology for this dataset

G20 currency performance against USD
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
EUR · EUR/USDUSD per EUR1.15921.1481-1.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
GBP · GBP/USDUSD per GBP1.35081.3376-1.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
JPY · USD/JPYJPY per USD154.0373155.6920-1.1%Since 11 Sep · as of 17 Sep 2026Method 1ECB
AUD · AUD/USDUSD per AUD0.71730.7114-0.8%Since 11 Sep · as of 17 Sep 2026Method 1ECB
CAD · USD/CADCAD per USD1.38581.3995-1.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
CNY · USD/CNYCNY per USD6.70826.7075+0.0%Since 11 Sep · as of 17 Sep 2026Method 1ECB
INR · USD/INRINR per USD95.555195.9389-0.4%Since 11 Sep · as of 17 Sep 2026Method 1ECB
BRL · USD/BRLBRL per USD5.11085.1307-0.4%Since 11 Sep · as of 17 Sep 2026Method 1ECB
MXN · USD/MXNMXN per USD16.977117.1881-1.2%Since 11 Sep · as of 17 Sep 2026Method 1ECB
KRW · USD/KRWKRW per USD1,342.78811,382.5538-2.9%Since 11 Sep · as of 17 Sep 2026Method 1ECB
IDR · USD/IDRIDR per USD17,602.648417,727.0969-0.7%Since 11 Sep · as of 17 Sep 2026Method 1ECB
TRY · USD/TRYTRY per USD48.596448.6753-0.2%Since 11 Sep · as of 17 Sep 2026Method 1ECB
ZAR · USD/ZARZAR per USD16.158716.2525-0.6%Since 11 Sep · as of 17 Sep 2026Method 1ECB

Observation methodology

  1. ECB euro reference rates cross-calculated consistently into the displayed USD pair. Information reference, not transaction rates. Quoted-pair movement and named currency performance against USD are distinct. Change shows currency performance against USD.

Phoenix FX Monitor - Asia

MYR uses the BNM Kuala Lumpur USD/MYR reference rate; the other regional pairs use ECB reference observations. These are indicative reference rates, not executable quotes. Source observation windows differ.

Observation methodology for this dataset

Asian currency performance against USD
Series / market11 Sep 2026 / priorLatest completedChange since 11 Sep 2026ObservationSource
MYR · USD/MYRMYR per USD4.07334.0849-0.3%11–18 Sep 2026 · BNM reference fixingMethod 1Bank Negara Malaysia
SGD · USD/SGDSGD per USD1.26791.2753-0.6%Since 11 Sep · as of 17 Sep 2026Method 2ECB
HKD · USD/HKDHKD per USD7.84207.8452+0.0%Since 11 Sep · as of 17 Sep 2026Method 2ECB
THB · USD/THBTHB per USD33.065033.3046-0.7%Since 11 Sep · as of 17 Sep 2026Method 2ECB
PHP · USD/PHPPHP per USD62.629462.7175-0.1%Since 11 Sep · as of 17 Sep 2026Method 2ECB

Observation methodology

  1. Bank Negara Malaysia Kuala Lumpur USD/MYR Reference Rate: volume-weighted interbank spot transactions during 08:00–15:00 Kuala Lumpur time, scheduled for publication at 15:30 MYT (UTC+8). This is a daily reference fixing, not a U.S. closing rate. Change shows MYR performance against USD: (prior / current − 1) × 100. BNM Kuala Lumpur USD/MYR Reference Rate restored on 21 September 2026. Both comparison dates use this BNM series; superseded ECB cross-rate values are not mixed into this comparison. The 18 September snapshot cut-off and historical editions remain unchanged. Source values were retrieved retrospectively on 21 September; 15:30 MYT is the scheduled publication time, not a verified first-publication timestamp.
  2. ECB euro reference rates cross-calculated consistently into the displayed USD pair. Information reference, not transaction rates. Quoted-pair movement and named currency performance against USD are distinct. Change shows currency performance against USD.

Phoenix Macro Watch

U.S. demand

Advance U.S. retail and food-services sales reached $773.9 billion in August, up 1.2% from July after seasonal adjustment. These figures are not adjusted for price changes. Released 16 September 2026.

UK inflation

UK CPI inflation was 3.1% in the year to August, compared with 2.9% in July. Prices rose 0.5% over the month. CPIH, which includes owner-occupier housing costs, was 3.3% year on year. Released 16 September 2026.

Malaysia inflation

DOSM reported Malaysian inflation of 1.9% in August. The all-items CPI index was 137.5, compared with 134.9 in August 2025, confirming the annual comparison. Released 18 September 2026.

Japan policy

The Bank of Japan voted 7–2 for an overnight call-rate target of around 1.25%, up from around 1.00%. The new guideline takes effect on 24 September. Released 18 September 2026.

Phoenix Perspective

Phoenix interpretation: funding conditions deserve country-by-country attention. This week’s policy decisions differ in direction and timing, while nominal spending and inflation figures describe different parts of the economy. Review borrowing, currency and operating-cost assumptions together, without treating the releases as a complete explanation of market prices.

Developments

Read the source-linked Phoenix Market Drivers above alongside the market tables. Official release periods, release dates and market close dates are distinct. Market correlations do not establish a single cause.

Phoenix Scenario Lens

Base context

Plan around the policy decisions already announced, including the BoJ’s 24 September effective date. Keep separate assumptions for funding costs, customer volumes and selling prices.

Upside context

Resilient demand accompanied by easing price pressure would improve planning flexibility. Next week’s flash PMIs and Australian employment release can help test that scenario.

Risk context

Persistent inflation, higher refinancing costs or weaker orders could squeeze margins and liquidity. These are planning scenarios, not forecasts or completed Friday market outcomes.

Phoenix Client Lens

Businesses

Revisit refinancing dates, floating-rate liabilities and currency mismatches alongside customer demand and input costs.

Founders

Test cash runway under alternative funding and collection assumptions before committing to new fixed costs.

Investors

Distinguish policy announcements, effective dates and market-data timestamps when comparing exposures; this edition does not recommend trades.

Partners

Use the MYT calendar to schedule briefings around next week’s PMI releases, policy decisions and Malaysian data.

From Phoenix, Fintrade and External Reading

Latest approved Phoenix and Fintrade commentary, retained with its original publication dates, alongside current source-labelled supporting reading. Earlier articles are not newly published this week.

Phoenix and Fintrade selections retained from the editorial selection approved on 15 September 2026; original article dates are shown below.

From Phoenix

Phoenix Investment Bank (Labuan) Ltd.

Originally published 26 August 2026

Banking's Next Competitive Advantage Is Resilience

Phoenix commentary on operational resilience as a strategic banking capability.

Why read it: Adds the Phoenix/PIBL commentary layer distinct from official market data.

Phoenix-authored commentary.

Read Banking's Next Competitive Advantage Is Resilience
Phoenix Investment Bank (Labuan) Ltd.

Originally published 24 August 2026

The New Risk Map for Banks, Borrowers and Investors

Phoenix commentary on how risk conditions are shifting for lenders, borrowers and investors.

Why read it: Connects the weekly data pack to Phoenix's broader risk framing.

Phoenix-authored commentary.

Read The New Risk Map for Banks, Borrowers and Investors
Phoenix Investment Bank (Labuan) Ltd.

Originally published 21 August 2026

Beyond the Single Bank Loan: Why Corporate Asia Is Turning to Syndicated Financing

Phoenix commentary on the move from bilateral borrowing towards syndicated capital.

Why read it: Links Asia's funding choices to liquidity, risk-sharing and cross-border execution.

Phoenix-sponsored commentary.

Read Beyond the Single Bank Loan: Why Corporate Asia Is Turning to Syndicated Financing

From Fintrade

Fintrade Securities Corporation Ltd (FSCL)

Originally published 21 August 2026

Labuan at the Heart of Asia's Emerging Wealth Economy

Fintrade commentary on Labuan's role in Asia's evolving private-wealth landscape.

Why read it: Adds a regional capital-flow and financial-centre perspective.

Fintrade-sponsored commentary.

Read Labuan at the Heart of Asia's Emerging Wealth Economy
Fintrade Securities Corporation Ltd (FSCL)

Originally published 20 August 2026

The New Logic of Global Capital

Fintrade commentary on how capital allocation is changing across markets and jurisdictions.

Why read it: Frames the weekly cross-asset readings within longer-term capital shifts.

Fintrade-sponsored commentary.

Read The New Logic of Global Capital
Fintrade Securities Corporation Ltd (FSCL)

Originally published 18 August 2026

Real-Time Payments Are Rewriting Cross-Border Commerce

Fintrade commentary on faster settlement and the changing infrastructure of international trade.

Why read it: Connects currency markets with payment rails, liquidity and treasury operations.

Fintrade-sponsored commentary.

Read Real-Time Payments Are Rewriting Cross-Border Commerce

External Reading

STOXX Ltd.

Publication date not supplied by source

STOXX Global 1800 - USD Gross Return

Defines the proposed developed-market benchmark and its regional construction.

Why read it: Provides the global equity baseline used before comparing North America, Europe and Asia-Pacific.

Public index page for the benchmark series.

Read STOXX Global 1800 - USD Gross Return
European Central Bank

Originally published 27 August 2026

Account of the 22-23 July 2026 monetary policy meeting

Records the ECB's policy discussion, inflation-risk assessment and market context.

Why read it: Adds dated policy context to the G20 FX and rates modules without treating market moves as single-cause events.

Public official source.

Read Account of the 22-23 July 2026 monetary policy meeting
World Gold Council

Publication date not supplied by source

Gold and major asset returns

Places gold's weekly return alongside other major asset classes.

Why read it: Restores a defensive and real-rate-sensitive signal to the edition's commodity coverage.

Weekly-return reference used with source citation.

Read Gold and major asset returns

Current-week releases and source reading

Federal Reserve

Source observation / release 16 September 2026

Fed raises its policy range to 3.75–4.00%

The Federal Reserve announced a 25-basis-point increase in its target federal funds range to 3.75–4.00%. All 12 voting members supported the decision.

External source reading.

Read Fed raises its policy range to 3.75–4.00%
Bank of Japan

Source observation / release 18 September 2026

BoJ announces a higher rate target from 24 September

The Bank of Japan voted 7–2 for an overnight call-rate target of around 1.25%, up from around 1.00%. The new guideline takes effect on 24 September.

External source reading.

Read BoJ announces a higher rate target from 24 September
Office for National Statistics

Source observation / release 16 September 2026

UK annual CPI inflation rises to 3.1%

UK CPI inflation was 3.1% in the year to August, compared with 2.9% in July. Prices rose 0.5% over the month. CPIH, which includes owner-occupier housing costs, was 3.3% year on year.

External source reading.

Read UK annual CPI inflation rises to 3.1%

Sources and methodology

Price change = (latest completed observation / 11 September 2026 observation - 1) × 100. Yield changes are expressed in basis points. FX currency performance uses the inverse return when the quote is currency units per USD. Calculations use unrounded observations; displays are rounded.

Snapshot cut-off: 18 September 2026 at 19:35:49 MYT (UTC+8). The selected Friday is 18 September 2026; source retrieval timestamps are recorded separately. Markets still trading at the cut-off use the latest completed session. Each row states its actual date and comparison. EIA Brent retains the latest dated source observation. Data can be revised by its publisher.

Disclosures

General market information and Phoenix interpretation only; not investment advice or a recommendation. Historical results do not predict future performance. Read full Disclosures.

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Phoenix Economic Calendar

Calendar checked 18 September 2026 for 21 September 2026 – 25 September 2026. This edition is a dated snapshot, not a live calendar. Future actuals and uncollected forecasts remain explicit; schedules can change. Importance is Phoenix editorial judgement. Clock times show their conversion to MYT.

2026-09-21

2026-09-21 · 2 events
Event / regionTime (MYT)Actual / statusPreviousFull details
Salaries and wages · 2025Malaysia21 Sep 12:00 MYTNot releasedScheduledNot collected
Event details: Salaries and wages · 2025
Importance
Medium
Local time
12:00 MYT (UTC+8)
Forecast
Not collected

DOSM release calendar

Annual reference period is 2025. Date and noon MYT time verified in DOSM’s structured advance-release calendar.

Chicago Fed National Activity Index · AugustUnited States21 Sep 20:30 MYTNot releasedScheduledNot collected
Event details: Chicago Fed National Activity Index · August
Importance
Medium
Local time
08:30 EDT (UTC−4)
Forecast
Not collected

Federal Reserve Bank of Chicago

Official schedule specifies 08:30 Eastern Time.

2026-09-22

2026-09-22 · 1 events
Event / regionTime (MYT)Actual / statusPreviousFull details
Richmond Fed manufacturing and non-manufacturing surveys · SeptemberUnited States22 Sep 22:00–22:10 MYTNot releasedScheduledNot collected
Event details: Richmond Fed manufacturing and non-manufacturing surveys · September
Importance
Medium
Local time
10:00–10:10 EDT (UTC−4)
Forecast
Not collected

Federal Reserve Bank of Richmond

Publisher gives a 10-minute release window. These surveys cover the Fifth Federal Reserve District.

2026-09-23

2026-09-23 · 7 events
Event / regionTime (MYT)Actual / statusPreviousFull details
Flash manufacturing, services and composite PMIs · SeptemberAustralia23 Sep 07:00 MYTNot releasedScheduled · provisional timetableNot collected
Event details: Flash manufacturing, services and composite PMIs · September
Importance
High
Local time
09:00 AEST (UTC+10)
Forecast
Not collected

S&P Global Market Intelligence

Publisher’s 2026 timetable, updated 16 April, gives UTC times; converted to local time and MYT. Dates remain provisional.

Flash manufacturing, services and composite PMIs · SeptemberJapan23 Sep 08:30 MYTNot releasedScheduled · provisional timetableNot collected
Event details: Flash manufacturing, services and composite PMIs · September
Importance
High
Local time
09:30 JST (UTC+9)
Forecast
Not collected

S&P Global Market Intelligence

Publisher’s 2026 timetable, updated 16 April, gives UTC times; converted to local time and MYT. Dates remain provisional.

Domestic tourism · second quarter 2026Malaysia23 Sep 12:00 MYTNot releasedScheduledNot collected
Event details: Domestic tourism · second quarter 2026
Importance
Medium
Local time
12:00 MYT (UTC+8)
Forecast
Not collected

DOSM release calendar

Date and noon MYT time verified in DOSM’s structured advance-release calendar.

Flash manufacturing, services and composite PMIs · SeptemberEuro area23 Sep 16:00 MYTNot releasedScheduled · provisional timetableNot collected
Event details: Flash manufacturing, services and composite PMIs · September
Importance
High
Local time
10:00 CEST (UTC+2)
Forecast
Not collected

S&P Global Market Intelligence

Publisher’s 2026 timetable, updated 16 April, gives UTC times; converted to local time and MYT. Dates remain provisional.

Flash manufacturing, services and composite PMIs · SeptemberUnited Kingdom23 Sep 16:30 MYTNot releasedScheduled · provisional timetableNot collected
Event details: Flash manufacturing, services and composite PMIs · September
Importance
High
Local time
09:30 BST (UTC+1)
Forecast
Not collected

S&P Global Market Intelligence

Publisher’s 2026 timetable, updated 16 April, gives UTC times; converted to local time and MYT. Dates remain provisional.

Flash manufacturing, services and composite PMIs · SeptemberUnited States23 Sep 21:45 MYTNot releasedScheduled · provisional timetableNot collected
Event details: Flash manufacturing, services and composite PMIs · September
Importance
High
Local time
09:45 EDT (UTC−4)
Forecast
Not collected

S&P Global Market Intelligence

Publisher’s 2026 timetable, updated 16 April, gives UTC times; converted to local time and MYT. Dates remain provisional.

Bank Indonesia policy meeting · decision dayIndonesia23 Sep · MYT time not specifiedNot releasedScheduledNot collected
Event details: Bank Indonesia policy meeting · decision day
Importance
High
Local time
Time not specified by publisher
Forecast
Not collected

Bank Indonesia

Meeting is scheduled for 22–23 September in Jakarta; the publisher states that policy is decided on the second day. No announcement clock time was verified.

2026-09-24

2026-09-24 · 5 events
Event / regionTime (MYT)Actual / statusPreviousFull details
Labour force · AugustAustralia24 Sep 09:30 MYTNot releasedScheduledNot collected
Event details: Labour force · August
Importance
High
Local time
11:30 AEST (UTC+10)
Forecast
Not collected

Australian Bureau of Statistics

ABS specifies Canberra time. Headline employment, unemployment, participation and hours worked.

Policy decision and Monetary Policy ReportSweden24 Sep 15:30 MYTNot releasedScheduledNot collected
Event details: Policy decision and Monetary Policy Report
Importance
High
Local time
09:30 CEST (UTC+2)
Forecast
Not collected

Sveriges Riksbank

Publication is on 24 September; any new policy-rate level is scheduled to apply from 30 September.

Monetary policy assessmentSwitzerland24 Sep 15:30 MYTNot releasedScheduledNot collected
Event details: Monetary policy assessment
Importance
High
Local time
09:30 CEST (UTC+2)
Forecast
Not collected

Swiss National Bank

This row is the policy press release; the separate press conference is scheduled for 10:00 local time.

Initial unemployment claims · week ending 19 SeptemberUnited States24 Sep 20:30 MYTNot releasedScheduled196,000 · week ending 12 September; advance, seasonally adjusted
Event details: Initial unemployment claims · week ending 19 September
Importance
Medium
Local time
08:30 EDT (UTC−4)
Forecast
Not collected

U.S. Department of Labor

Previous release

Time source

Regular Thursday 08:30 Eastern release; no September holiday exception is listed. September uses EDT, not the calendar page’s generic EST label.

BoJ higher overnight-rate target takes effectJapan24 Sep · MYT time not specifiedAnnounced: around 1.25% targetScheduled implementation · decision already announcedAround 1.00% target
Event details: BoJ higher overnight-rate target takes effect
Importance
High
Local time
Time not specified by publisher
Forecast
Not collected

Bank of Japan

Previous release

Implementation of the decision announced on 18 September; this is not a new policy meeting or a forecast. The statement gives an effective date without a clock time.

2026-09-25

2026-09-25 · 1 events
Event / regionTime (MYT)Actual / statusPreviousFull details
Leading, coincident and lagging economic indicators · JulyMalaysia25 Sep 12:00 MYTNot releasedScheduledNot collected
Event details: Leading, coincident and lagging economic indicators · July
Importance
Medium
Local time
12:00 MYT (UTC+8)
Forecast
Not collected

DOSM release calendar

DOSM calendar publication ID mei_2026-07; date and noon MYT time verified in the structured calendar.

Calendar coverage and timing notes
  • This is a selected calendar of 16 events, not an exhaustive global database. Importance is Phoenix editorial judgement.
  • Edition source-eligibility cut-off: 18 September 2026 at 19:35:49 MYT (11:35:49 UTC). Retrieval checks occurred later and are recorded separately; no later actual releases were added.
  • Unreleased results say Not released and consensus forecasts are Not collected. The BoJ implementation row repeats an already-announced target, explicitly labelled as such.
  • Previous values are included only for the verified BoJ target and U.S. initial claims; other previous values are Not collected. Advance values can be revised.
  • Clock times use the applicable September daylight-saving offsets. Australia’s flash PMI is 22 September at 23:00 UTC, which is 23 September locally and in MYT.
  • Bank Indonesia and the BoJ implementation statement supply dates without verified clock times. No MYT clock has been invented for those rows.
  • S&P Global’s annual PMI timetable is provisional and was last updated on 16 April. All schedules are subject to publisher changes.
  • No complete ASEAN timetable is claimed. U.S. August PCE is scheduled for 30 September, outside this window.