<span>STORY: From the AI spotlight shining on Alphabet to Japan’s currency and bond markets, these are the stories to watch in business and finance in the coming week.</span><span>:: Look Ahead</span><span>:: Alphabet’s ascension</span><span>Alphabet is back in the AI game.</span><span>The Google parent’s stock has become a 2025 standout performer among the “Magnificent 7” megacaps.</span><span>Alphabet has benefited from the strong performance of its cloud business and the launch of its latest Gemini AI model. </span><span>Shares are up nearly 70% year-to-date, roughly doubling Nvidia’s 2025 gain, as its market value approaches $4 trillion.</span><span>:: Eyes on Japan</span><span>Debt auctions and speeches by central bankers are in focus in Japan where currency and bond markets are on edge after a massive stimulus announcement.</span><span>Concerns over Prime Minister Sanae Takaichi’s spending plan sent Japan’s benchmark 10-year bond yield to a 17-year high, while the 30-year yield jumped to a record this month.</span><span>The latest test comes when the Ministry of Finance sells 10-year debt on Tuesday and 30-year on Thursday.</span><span>:: Ukraine peace talks</span><span>:: File</span><span>U.S. President Donald Trump’s latest push to end Russia’s war in Ukraine has spurred a fresh bout of shuttle diplomacy and brought momentum to parts of financial markets.</span><span>:: Ukrainian Presidential Press Service</span><span>Ukraine’s bonds have rallied in recent days, while European defense stocks and oil have dropped.</span><span>:: End of the year</span><span>Markets are heading into the end of the year on a more even keel than at the start.</span><span>The market has seemingly accepted U.S. long-term finances are unlikely to improve any time soon, but rates are set to fall in 2026, offering a layer of comfort.</span><span>This earnings season reflected a corporate sector in rude health and while the S&P 500 is heading for a 0.4% decline this month, the bulls need not fret.</span><span>The index has only ever fallen in both November and December in nine out of the last 50 years.</span>
