Global markets are seeing specific pockets of volatility despite thin trading volumes post-Thanksgiving. Pressure on Japanese Government Bonds (JGB) is intensifying, with open interest in 10-year JGB futures hitting 188,000 contracts, the highest level since September 2024. This surge indicates growing market speculation and potential stress within the Japanese bond market. In the US, President-elect Trump confirmed he has determined his choice for the next Federal Reserve Chair, though the specific nominee remains undisclosed pending a formal announcement. US markets have otherwise seen thin post-holiday trading with 10Y yields rising to approximately 4.02%, while traders await upcoming economic data and central bank speeches. [Update 1] Additional reporting confirms the surge in JGB futures open interest to 188,000 contracts and reiterates Trump's selection of a Fed Chair nominee without naming the individual.