---
title: "GLOBAL MARKETS-Japan bond yields jump after BOJ hike, Wall Street poised for gains"
description: "Japan's bond yields surged after the Bank of Japan raised interest rates, signaling further tightening. Wall Street futures indicated gains following a tech-led rally. The yen weakened, and the dollar"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/270285715.md"
published_at: "2025-12-19T09:55:59.000Z"
---

# GLOBAL MARKETS-Japan bond yields jump after BOJ hike, Wall Street poised for gains

> Japan's bond yields surged after the Bank of Japan raised interest rates, signaling further tightening. Wall Street futures indicated gains following a tech-led rally. The yen weakened, and the dollar rose 1% against it. European stocks edged higher, while U.S. consumer price inflation slowed unexpectedly. The ECB and BoE showed varying levels of hawkishness. Commodities saw slight declines, with gold and crude oil prices easing.

Wall Street futures point to gains after tech-led rally

BOJ hikes 25 bps, signals further tightening ahead

Japanese bond yields jump, Dollar gains 1% on yen,

(Updates after European markets open)

By Iain Withers and Wayne Cole

LONDON/SYDNEY, Dec 19 (Reuters) - Japanese government bond yields jumped and the yen weakened on Friday after the Bank of Japan raised interest rates to a three-decade high and left the door wide open to further tightening. Global stocks saw some gains, with European stocks edging 0.1% higher (.STOXX) but failed to match much stronger trading sessions in Asia and the U.S. overnight. Wall Street futures pointed to gains of between 0.3% and 0.5%, after rallying Thursday on stellar results from chipmaker Micron Technology. (MU.O) (NQc1) (EScv1) Investors were also digesting news that the European Union would provide Ukraine with 90 billion euros ($105.4 billion) of support over the next two years, but failed to agree on an ambitious plan to use frozen Russian assets to finance this. The BOJ’s widely expected rate hike led investors to sell the yen on the fact and drove some profit-taking. The dollar was last up as much as 1% on the yen at 157.07. (JPY=EBS) , while Japan’s 10-year government bond yield hit a 26-year peak and the Nikkei closed up 1%. (.N225)

The BOJ’s decision to raise short-term rates to 0.75% marks another step in ending decades of huge monetary support in the country. Analysts said it would need to plot a careful path to manage inflation as Japan’s new government prepares major fiscal stimulus.

“Markets expect the Bank of Japan will have to raise rates more,” said Shaniel Ramjee, co-head of multi-asset at Pictet Asset Management. “That extra fiscal spending might continue to weaken the yen, which exacerbates inflation.”

Capital Economics senior economist Abhijit Surya said he expected BOJ rates reaching 1.75% by 2027.

ECB, BoE OFFER DIFFERENT LEVELS OF HAWKISHNESS Wider sentiment got a boost from a surprise slowdown in U.S. consumer price inflation to 2.7%, though analysts cautioned the data were clearly distorted lower by the government shutdown and could not be taken at face value.

Pricing for the Federal Reserve moved only marginally with a rate cut in January implied at just 27%, while 10-year Treasury yields were at 4.1354% (US10YT=RR) , some way from the recent 3-1⁄2\-month top of 4.209%. (0#USDIRPR) Overnight, British bonds had taken a hit after the Bank of England cut rates as expected but only after a very tight 5-4 vote. Policymakers also signalled caution about the pace of future easing and another cut is now not fully priced in until June. (0#GBPIRPR) The European Central Bank was even more hawkish as it held rates at 2.0% and signalled a likely end to the easing cycle. Markets imply only a minor chance of a cut for all of 2026. (0#EURIRPR)

In commodity markets, gold slipped 0.1% to $4,329 an ounce (XAU=) , trading still below its October peak of $4,381. (GOL/)

Brent (LCOc1) fell 0.5% to $59.51 a barrel, while U.S. crude (CLc1) eased 0.5% to $55.89 per barrel.

($1 = 0.8536 euros)

### Related Stocks

- [8301.JP - Bank of Japan](https://longbridge.com/en/quote/8301.JP.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 由於市場押注日本將提前加息，日本五年期債券收益率創下歷史新高 | 日本五年期政府債券收益率在市場預期日本銀行將提前加息的背景下，創下 1.645% 的歷史新高，這一預期是由於日元大幅貶值所推動。兩年期債券收益率也上升至 1.195%，與 1996 年 8 月以來的最高水平持平。分析師表示，日本銀行可能在  | [Link](https://longbridge.com/en/news/272768687.md) |
| 由於對刺激措施的擔憂加劇，日本 30 年期國債收益率升至歷史新高 | 日本 30 年期國債收益率因對債務融資的政府刺激措施的擔憂而創下歷史新高。30 年期日本國債收益率上升至 3.45%，而 40 年期收益率達到 3.715%。自去年 11 月以來，長期收益率因對高市部長的刺激計劃的猜測而激增。日本計劃為 2 | [Link](https://longbridge.com/en/news/270677435.md) |
| 路透社調查顯示，日本央行可能會在 9 月底前再次將利率提高至 1% 或更高，甚至可能在 7 月之前就採取行動 | 日本銀行（BOJ）預計將在九月份將其關鍵利率提高至 1% 或更高，大多數經濟學家預測將在七月份加息。目前利率為 0.75%，這是三十年來的最高水平。支持低利率的高市早苗首相可能會影響日本銀行的決策。分析師建議在加息時保持謹慎，以評估經濟影響 | [Link](https://longbridge.com/en/news/272640539.md) |
| 由於干預威脅的湧動，脆弱的日元被劇烈波動 | 日元在美國美元走弱的背景下略微走強，此前日本財政部長表示準備對日元貶值進行干預。儘管有干預威脅，由於日本央行加息緩慢，日元貶值可能仍會持續。美元指數下跌，顯示出多年的下行趨勢。由於政府停擺，美國 GDP 數據的發佈被推遲，預計將顯示出 K  | [Link](https://longbridge.com/en/news/270561719.md) |
| 根據央行調查，日本家庭預計物價將持續上漲 | 最近的一項日本銀行調查顯示，86% 的日本家庭預計未來一年價格將繼續上漲，平均預期漲幅為 11.6%。這反映了人們對通貨膨脹的持續擔憂，因為 11 月份的核心消費者通脹率達到了 3%，超過了日本銀行 2% 的目標。儘管中央銀行在 12 月份 | [Link](https://longbridge.com/en/news/272951157.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.