As markets brace for elections in Italy and France next year, a growing number of bond investors are betting that the political drama will be more muted in Rome than in Paris.

A portfolio manager at Ninety One Plc is using a two-pronged position in the Treasuries market to bet ebbing price pressures will help restore faith in Federal Reserve Chairman Kevin Warsh’s inflation-fighting credentials.

A senior strategist at Bank of New York Mellon is using the price of a Japanese fast-food staple to get an accurate snapshot of the yen’s weakness as the impact of the recent intervention fades.

The yen edged closer toward a key level against the dollar, raising concerns over Japanese authorities stepping in again to prop up the currency.

The yen surged against the dollar after US jobs data, after earlier speculation in markets that authorities could intervene again on the currency.

The US’s decision to sell euros to support Japan’s currency without warning European policymakers is adding to geopolitical risks and further dimming the appeal of longer-maturity government bonds, according to BlackRock Inc.

The yen surged against a weaker dollar after an unexpectedly soft US payrolls report on Friday, with traders on alert for any sign authorities were preparing to intervene in the Japanese currency again.

European bonds are emerging as a safer choice for fund managers as they try to navigate an increasingly fraught global backdrop.

The yen’s rally following joint US-Japan intervention has likely run its course, according to currency strategists, who say market expectations of a Federal Reserve interest-rate hike this year are set to support the dollar.

Jordan Rochester, who made his name as one of Britain’s most recognized financial commentators during the country’s split from the European Union, has left Mizuho Bank Ltd. to pursue a position in Dubai.

The pound’s rally is at risk from the new UK government’s still unclear fiscal plans as well as the potential for fewer interest-rate hikes eroding the currency’s high-yield appeal.

Japan may have to shift its focus from supporting the yen toward controlling government bond yields if it is to achieve its ambitious economic growth plans, according to Deutsche Bank AG.

UBS Asset Management’s Kevin Zhao is planning to short Treasuries in a bet that the robust US economy will erode the haven appeal of owning government debt.

Unusual moves in an oil-market gauge are prompting Vanguard Asset Management Ltd. to buy insurance against stickier-than-expected US inflation.

Some sovereign debt chiefs are warming up to the growing footprint of hedge funds in government bond markets, casting these investors as potentially beneficial participants rather than a source of risk.

Asset manager Schroders is buying Italian government bonds, arguing the country has already weathered the budget and political turmoil now rattling investors in other European nations and the US.

After starting the week at their highest in almost three decades, yields on long-dated gilts are poised for their biggest drop in more than two years.

David Zahn is looking vindicated. He’s been shunning UK bonds for more than a year, when other fund managers were piling in after selloffs.

Global bond yields hovered near multiyear highs as rising energy prices stoked inflation concerns.

Even before the Iran war, Fidelity International portfolio manager Mike Riddell was skeptical of the view that global price pressures were subsiding. His contrarian bet — that inflation was set to rise — is now paying off handsomely.