Japan 10-Year Yield Holds Near 17-Year High
Japan’s 10-year government bond yield remained around 1.62% on Thursday, staying close to a 17-year high reached earlier this week as investors anticipated significant economic data releases. On Friday, the market will analyze reports covering industrial production, retail sales, and consumer confidence. Additionally, Tokyo's inflation data - a key indicator of national price trends - will be scrutinized for cues on the Bank of Japan's policy direction. Over the weekend, Bank of Japan Governor Kazuo Ueda noted that wages are likely to continue rising due to a tightening labor market, which strengthens the prospect of conditions aligning for another rate hike. In their July meeting, the Bank of Japan kept interest rates steady but increased inflation forecasts and expressed a more optimistic economic outlook. Moreover, on the trade front, Japan’s chief negotiator Ryosei Akazawa called off a scheduled visit to Washington, where he was supposed to discuss the specifics of Japanese investment in the United States.
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