{"id":59725,"date":"2026-03-13T00:38:24","date_gmt":"2026-03-13T04:38:24","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-surging-dollar-jgb-yield-spikes-and-energy-supply-disruptions\/59725\/"},"modified":"2026-03-13T00:38:24","modified_gmt":"2026-03-13T04:38:24","slug":"global-markets-shaken-by-surging-dollar-jgb-yield-spikes-and-energy-supply-disruptions","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-surging-dollar-jgb-yield-spikes-and-energy-supply-disruptions\/59725\/","title":{"rendered":"Global Markets Shaken by Surging Dollar, JGB Yield Spikes, and Energy Supply Disruptions"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The U.S. Dollar surged to multi-month highs<\/strong>, with the <strong>USD\/JPY<\/strong> hitting <strong>159.455<\/strong> and the <strong>U.S. Dollar Index (DXY)<\/strong> touching <strong>99.795<\/strong>.<\/li>\n<li><strong>Japanese Government Bond (JGB) yields spiked<\/strong> across the curve, with the <strong>10-year yield<\/strong> rising 4 basis points to <strong>2.220%<\/strong>.<\/li>\n<li><strong>ADNOC reduced onshore partner crude supply by 20%<\/strong> this month, diverting flows to <strong>Fujairah<\/strong> to bypass the increasingly volatile <strong>Strait of Hormuz<\/strong>.<\/li>\n<li><strong>Indonesia\u2019s stock market slumped 2.4%<\/strong> to <strong>7,188<\/strong> amid transparency concerns and regional geopolitical tensions.<\/li>\n<li><strong>Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>)<\/strong> revised its <strong>Bank of England<\/strong> outlook, now expecting two <strong>25 bp rate cuts<\/strong> in <strong>June<\/strong> and <strong>September<\/strong>.<\/li>\n<\/ul>\n<h2>Currency and Fixed Income Markets<\/h2>\n<p>The <strong>U.S. Dollar<\/strong> continued its aggressive rally on March 13, 2026, driven by <em>safe-haven demand<\/em> and <em>sticky inflation expectations<\/em>. The <strong>USD\/JPY<\/strong> pair reached <strong>159.455<\/strong>, its highest level since mid-2024, while the <strong>U.S. Dollar Index<\/strong> touched <strong>99.795<\/strong>, marking its strongest point since late November. This currency strength is placing significant pressure on Asian markets and forcing a repricing of global interest rate trajectories.<\/p>\n<p>In Japan, the bond market faced a sharp sell-off as yields climbed to multi-year highs. The <strong>5-year JGB<\/strong> rose 4 basis points to <strong>1.665%<\/strong>, the <strong>10-year JGB<\/strong> hit <strong>2.220%<\/strong>, and the <strong>20-year JGB<\/strong> climbed to <strong>3.090%<\/strong>. <em>Market participants are increasingly concerned about the Bank of Japan&#39;s ability to maintain its current policy stance<\/em> as the yen&#39;s weakness persists and global yields remain elevated.<\/p>\n<h2>Energy Security and Geopolitics<\/h2>\n<p>Energy markets are reacting to significant supply chain shifts in the Middle East. <strong>ADNOC<\/strong> has reportedly reduced crude supply to its onshore partners\u2014including <strong>BP (<a href=\"\/stock\/BP\">BP<\/a>)<\/strong> and <strong>TotalEnergies (<a href=\"\/stock\/TTE\">TTE<\/a>)<\/strong>\u2014by <strong>20%<\/strong> this month. These flows are being redirected to the port of <strong>Fujairah<\/strong>, allowing the UAE to bypass the <strong>Strait of Hormuz<\/strong>, which has seen heightened risk due to regional conflict.<\/p>\n<p>In response to these disruptions, Japan\u2019s Trade Minister <strong>Akazawa<\/strong> stated that the government and private sector will strive to secure <strong>alternative crude oil sources<\/strong>. Japan is exploring procurement from multiple regions to reduce its <strong>95% reliance<\/strong> on Middle Eastern oil. Meanwhile, geopolitical tensions remain high following a rocket attack in a northern Israeli town that left <strong>58 people<\/strong> with minor injuries.<\/p>\n<h2>Regional Economic Impacts<\/h2>\n<p>Southeast Asian economies are feeling the brunt of the current market volatility. The <strong>Indonesia Stock Market<\/strong> plummeted <strong>2.4%<\/strong> to <strong>7,188<\/strong>, continuing a downward trend fueled by <em>MSCI transparency warnings<\/em> and foreign capital outflows. Major Indonesian firms like <strong>Telkom Indonesia (<a href=\"\/stock\/TLK\">TLK<\/a>)<\/strong> and <strong>United Tractors (<a href=\"\/stock\/UNTR\">UNTR<\/a>)<\/strong> remain under watch as rating agencies maintain negative outlooks for the region.<\/p>\n<p>In Thailand, the <strong>University of the Thai Chamber of Commerce<\/strong> warned that a drop in <strong>European visitors<\/strong> is likely to impact the nation&#39;s vital tourism sector. Simultaneously, Malaysia&#39;s Finance Minister announced that government spending on <strong>RON95 petrol subsidies<\/strong> is expected to hit <strong>2 billion RGT<\/strong>, highlighting the fiscal strain caused by elevated global energy prices.<\/p>\n<h2>Central Bank Outlook<\/h2>\n<p><strong>Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>)<\/strong> has adjusted its forecast for the <strong>Bank of England (BoE)<\/strong>, reflecting the <em>increased uncertainty<\/em> in the global macro environment. The bank now expects the BoE to deliver <strong>two 25 basis point rate cuts<\/strong> in <strong>June<\/strong> and <strong>September<\/strong>, a delay from previous expectations of a March cut. Analysts noted that while the labor market is weakening, the persistence of energy-driven inflation risks has forced a more cautious &quot;wait and see&quot; approach from policymakers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The U.S. Dollar surged to multi-month highs, with the USD\/JPY hitting 159.455 and the U.S. Dollar Index (DXY) 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