周二,日本10年期政府债券收益率小幅升至1.57%左右,从上一交易日的下跌中反弹,因为投资者在本周日本央行政策会议之前做好了准备。人们普遍预计,由于美国最近关税对经济的影响存在不确定性,日本央行将保持利率不变。然而,央行可能会在其季度展望中上调通胀预测,反映出持续的价格压力。市场还将密切关注日本央行债券购买指导的任何调整,这可能会影响未来的收益率走势。上周,美国和日本达成贸易协议,对日本出口商品征收15%的关税,低于唐纳德·特朗普总统最初提出的25%的税率,日本国债收益率上涨。与此同时,东京7月份的通胀数据仍远高于日本央行2%的目标,这强化了人们对近期可能出台紧缩政策的预期。
Japan’s 10-year government bond yield edged up to around 1.57% on Tuesday, rebounding from the previous session’s decline as investors positioned ahead of the Bank of Japan’s policy meeting this week. The BOJ is widely expected to keep interest rates unchanged amid uncertainty over the economic fallout from recent US tariffs. However, the central bank is likely to raise its inflation forecast in its quarterly outlook, reflecting ongoing price pressures. Markets will also closely watch for any adjustments to the BOJ’s bond purchase guidance, which could influence yield movements going forward. Last week, JGB yields rose after the US and Japan reached a trade deal that imposed a 15% tariff on Japanese exports—lower than the 25% rate initially proposed by President Donald Trump. Meanwhile, Tokyo’s July inflation reading remained well above the BOJ’s 2% target, reinforcing expectations that a policy tightening may be on the table in the near future.