Group 1 - The core point of the news is the significant underperformance of the U.S. non-farm payroll data, which came in at 22,000 jobs added, far below market expectations of 75,000 [2] - The unemployment rate for August was reported at 4.3%, matching market expectations but still below the Federal Reserve's year-end forecast of 4.5% [2] - The non-farm data indicates a potential turning point in the labor market, with economists suggesting that if the upcoming annual employment data revision shows a loss of 800,000 jobs, market sentiment may shift from anticipating rate cuts to fearing a recession [3] Group 2 - The report highlights a significant shift in the global bond market, indicating a structural turning point rather than a cyclical fluctuation, with Japan being seen as the last line of defense [6] - The report also discusses the current state of the Chinese stock market, questioning whether A-shares will experience sudden declines and analyzing the stages of the Hong Kong stock market [6] - It includes insights on the Federal Reserve's focus and implications for potential rate cuts in September, as well as strategies for gold and oil in the upcoming week [6]

Core Insights - The global markets watchlist tracks nine prominent indexes from various economies, highlighting their year-to-date performance and historical peaks [1][2]. Group 1: Year-to-Date Performance - The Hang Seng index from Hong Kong leads with a year-to-date gain of 29.9% as of September 2, 2025 [2]. - The Shanghai index follows with an 18.3% gain, while Canada's TSX has a 14.9% increase [2]. - The BSE SENSEX from India has the smallest year-to-date gain at 0.3% [2]. Group 2: Current Values and Historical Peaks - The TSX index reached its all-time peak of 28,615.62 on September 2, 2025, showing no percentage off peak [5]. - The S&P 500 is currently at 6,415.54, which is 1.33% below its peak of 6,501.86 reached on August 28, 2025 [5]. - The Hang Seng index is currently at 25,496.55, which is 23.10% off its peak of 33,154.12 from January 26, 2018 [5]. Group 3: Comparative Performance Since Market Lows - A comparative performance chart illustrates the recovery of world markets since their lows, with the S&P 500, TSX, CAC 40, and BSE SENSEX hitting lows on March 9, 2009 [8]. - The visualization aligns various indexes to show relative performance, indicating significant recovery trends across different markets [8].