Wall Street Slips as Oil Prices Surge 5% on Iran-Hormuz Uncertainty 
Gold Price Hits Two-Month High as Investors Await US Inflation Data 
ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Singapore Raises 2026 GDP Growth Forecast as AI Demand Fuels Economy 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Bets 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
BOJ Holds Rates at 1% as Inflation Outlook Eases, October Rate Hike Still Possible 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Japan Executives Warn Weak Yen and Currency Volatility Threaten Economy 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Singapore Raises 2026 GDP Growth Forecast to 4.5%-5.5% as AI Boom Fuels Economy 
Gold Prices Rise as Fed Rate Hike Bets Ease 
The Bank of Japan (BoJ) surprised the market Friday by increasing its buying in 5-10 year bonds, trying to keep the 10-year JGB yields near zero. This move comes after the central bank unexpectedly skipped widely anticipated bond-buying operations in shorter maturities, which and pushed JGB yields higher.
Following this news, the Japanese government bonds climbed steadily after the Bank of Japan (BoJ) surprised markets, by unveiling its bond-buying plans, wherein it raised the purchase operation of long-term bonds.
The benchmark 10-year bond yield, which moves inversely to its price, hovered around 0.08 percent, while the long-term 30-year bond yields fell 1/2 basis point to 0.85 percent and the yield on the short-term 3-year note also dipped 1/2 basis point to -0.14 percent by 06:20 GMT.
The central bank, in its latest JGB buying operation plans, has raised the purchase of long-term 5-10 years maturity bonds to JPY450 billion, from JPY410 billion, while keeping other short-to-medium-term maturity bonds unchanged for purchases.
Markets now wait to watch the decision of the BoJ at its 2-day monetary policy meeting, scheduled to be held on January 30-31. We foresee that the central bank will remain committed to holding its 10-year JGB yields near zero, while keeping interest rate steady at -0.10 percent.
