📆 Thursday, December 7
► Markets in Asia and Europe declined and bond yields rose amid expectations that the Bank of Japan might end its negative interest-rate policy soon, as indicated by Governor Kazuo Ueda’s comments and a weak long-term debt auction. Japan’s 10-year yield jumped as much as 13 basis points. US Treasury yields rose up to 7 bps (10-y) higher during Asian trading but have cooled down – currently at +2.5 bps.
► In Europe, the Stoxx 600 fell by 0.3%. Industrial production in Germany fell by 0.4% in October 2023 compared to the previous month. Eurozone GDP data showed weak development and came in slightly below expectations – the impact on the markets has (so far) been limited. Traders are also continuing to watch what the European Central Bank says, as they still expect interest rates to be cut soon.
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