花旗：贸易协议或提振日本央行加息预期

Core Viewpoint - The completion of the US-Japan trade agreement may lead to an earlier-than-expected interest rate hike by the Bank of Japan, as market uncertainties diminish [1] Group 1: Market Expectations - According to Citigroup's strategist Tomohisa Fujiki, the trade agreement could pave the way for the Bank of Japan to raise interest rates sooner than current market expectations [1] - Traders currently estimate a 75% probability that the Bank of Japan will raise rates again by the end of 2025, based on overnight index swap market pricing [1] Group 2: Potential Impacts - If the Bank of Japan signals a hawkish stance in the upcoming policy meeting, the probability of a rate hike could increase further [1] - Given potential political pressures and the risk premium associated with 5-10 year government bonds, investors may prefer a steeper yield curve overall [1]