Bonds

Japan data huge miss - Household spending plummets in Oct, down 3% y/y vs. +1% expected

The steep decline in household spending highlights the disconnect between rising wages and consumer behaviour, potentially limiting the BOJ’s confidence in near-term demand-driven inflation. Yen traders may see the release as modestly dovish for December, though broader policy expectations still hinge on wage momentum and next week’s inflation data.

1 hour ago

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1 hour ago

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Treasury yields perk up and help boost the US dollar

First gain in five days for the US dollar

Adam Button

6 hours ago

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Adam Button

6 hours ago

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Japan’s 30-yr JGB sale draws highest demand since 2019 as bid-cover surges

The stellar auction suggests long-duration demand remains resilient, offering some relief after recent yield volatility. A tighter tail and high bid-cover ratio may help anchor Japan’s long end as markets weigh the BOJ’s next policy move.

21 hours ago

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21 hours ago

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JPMorgan: labour slump warrants near-term Fed cuts, but sticky inflation limits easing

The note supports front-loaded Fed-cut pricing but cautions against extending the easing cycle through 2026. Rates traders may trim longer-run dovish bets, while USD bears face a stickier-inflation brake on deeper downside.

03/12/2025 | 22:20 GMT

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03/12/2025 | 22:20 GMT

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Japan Q3 capex disappoints while company profits surge nearly 20%

The sharp capex miss may dampen expectations for a stronger domestic investment cycle, while the profit surge supports equity sentiment. The BOJ may view the divergence cautiously as it weighs December policy options.

30/11/2025 | 23:57 GMT

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30/11/2025 | 23:57 GMT

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S&P warns UK finances remain vulnerable despite new budget revenue measures

Fresh warnings on fiscal vulnerabilities and consolidation risks may weigh on gilts and sterling, reinforcing investor concerns about the UK’s limited fiscal room and sensitivity to shocks.

27/11/2025 | 22:57 GMT

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27/11/2025 | 22:57 GMT

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Fitch warns Japan’s new stimulus could add fiscal risk to its A/Stable rating

Fitch says Japan’s new stimulus could raise fiscal risks if it leads to prolonged spending and higher debt, though the near-term impact is uncertain. Japan retains rating headroom, but elevated debt and weak growth keep pressure on its A/Stable outlook.

27/11/2025 | 04:10 GMT

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27/11/2025 | 04:10 GMT

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Recap - BoJ’s Noguchi tempers December hike bets, urges measured, step-by-step tightening

Noguchi’s neutral tone softens expectations for a December move, reinforcing a cautious BoJ path that keeps yen traders focused on wage data, currency volatility and the December meeting’s communication.

27/11/2025 | 03:56 GMT

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27/11/2025 | 03:56 GMT

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Financial Times says "Japan needs to end its dangerous debt delusion"

Ummmm, pretty much everyone has said this over the past couple of decades and more

27/11/2025 | 00:24 GMT

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27/11/2025 | 00:24 GMT

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Japan to boost short-term JGB issuance by ¥7tn to fund stimulus, Reuters reports

Japan plans to raise short-tenor JGB issuance by about ¥7 trillion this fiscal year to finance its stimulus package, increasing supply in two- and five-year bonds and boosting treasury bill issuance, while leaving long-dated supply unchanged.

26/11/2025 | 23:44 GMT

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26/11/2025 | 23:44 GMT

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The US treasury sells $44 billion of 7 year notes at a high yield of 3.781%

WI level at the time of the auction was 3.775%

26/11/2025 | 16:33 GMT

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26/11/2025 | 16:33 GMT

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US treasury to complete coupon auction w/ sale of 7 year notes at the bottom of the hour

The auction will take place earlier ahead of the Thanksgiving Day holiday.

26/11/2025 | 16:27 GMT

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26/11/2025 | 16:27 GMT

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U.S. Treasury sells $70 billion of 5 year notes at a high yield of 3.562%

WI level at the time of the auction 3.557%

25/11/2025 | 18:03 GMT

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25/11/2025 | 18:03 GMT

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U.S. Treasury to sell 70 billion of 5 year notes at 1 PM ET

The 2 year note auction was met with average demand yesterday

25/11/2025 | 17:50 GMT

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25/11/2025 | 17:50 GMT

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Takaichi: Japan may issue bonds for stimulus but total JGB supply to stay below last year

Takaichi said Japan will issue bonds if needed to fund its stimulus but expects total JGB issuance to remain below last year’s levels. She emphasised that sustainable state finances must ultimately come from stronger economic growth.

21/11/2025 | 04:43 GMT

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