Japan’s Yield Shift Signals a New Policy Phase

Amundi’s investment team offers a clear snapshot of the week’s macro drivers, centering on Japan’s evolving policy mix and its spillovers across global markets. 

• Japan’s two-year yield hit its highest level since 2007 as expectations of a December BOJ hike solidified.

• Global equities hovered near record highs while bond yields climbed after mixed U.S. labor data and firmer eurozone inflation.

• India cut rates amid easing price pressures, marking a divergence from tightening signals in developed markets.

For deeper context on policy trajectories and cross-asset implications, the full report lays out the moving pieces behind this week’s market tone.