Japanese Bonds Plummet, Rate Hike Speculation Soars

Japanese government bonds experienced a significant drop, with the two-year yield reaching its highest point since 2008, following hints from the Bank of Japans chief about a possible interest rate hike in December. This unexpected news led to a surge in traders bets on a rate hike, with the likelihood now over 80%. The yen also strengthened, potentially marking a turning point for the struggling currency. This development comes as Japans inflation has consistently exceeded the Bank of Japans two percent target.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.