S&P 500 — US Large Cap Index
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STI Index — Singapore Market
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Bovespa — Brazil Equities
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IPC Index — Mexico Market
Japan’s 10-year government bond yield climbed above 3% on Wednesday, reaching its highest level since 1996 as surging oil prices heightened inflation concerns and strengthened expectations for imminent interest rate hikes. Japan’s deteriorating fiscal outlook, amid the Takaichi administration’s plans for massive spending and tax cuts, also fueled the surge in domestic bond yields. Oil prices advanced for a third consecutive session amid escalating hostilities between the US and Iran, raising concerns over further disruptions to energy flows from the Middle East. Higher energy costs exacerbate import-driven inflation in Japan given its reliance on oil imports. Meanwhile, the Bank of Japan is increasingly expected to raise interest rates this month, with US Treasury Secretary Scott Bessent urging BOJ Governor Kazuo Ueda to take “decisive” monetary steps to combat yen weakness.
