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Jackson Hole, Credit Suisse, and the bears are fighting back.

This week's Jackson Hole symposium offers Fed Chair Jay Powell the chance to reinforce the central bank's hawkish message. Powell speaks at the conference at 10am on Friday and he is expected to underline the Fed's resolve in combating inflation. So far the market has been anticipating a more hawkish bias, with US 10-year yields touching the 3% level again, from as low as almost 2.5% at the beginning of August. Higher yields are giving the dollar a renewed lease of life, putting an end to the nascent yen rally and bringing 140 back into play for USD/JPY.