Economic Performance - Japan's economy experienced an annualized contraction of 1.8%, marking a quarterly decline of 0.4%, the first negative growth in six quarters [1] - The contribution of external demand to GDP was 0.2 percentage points, reflecting the impact of increased tariffs from the U.S. [4] - Housing investment declined by 9.4% from the previous quarter, translating to an annualized drop of 32.5%, primarily due to changes in building regulations [5] Bond Market Reaction - The Japanese bond market saw widespread declines, with yields generally rising; the 10-year bond yield increased by 3.4 basis points to 1.734% [1][3] - The 20-year bond yield rose by 3.2 basis points to 2.748%, and the 30-year bond yield increased by 5 basis points to 3.263% [3][4] Central Bank Policy Outlook - Economists suggest that the economic contraction complicates the timeline for the Bank of Japan's next interest rate hike [1] - The next policy meeting of the Bank of Japan is scheduled for December 18-19, with expectations that the central bank may delay any policy changes until next year [5][6] - Private consumption growth was only 0.1%, down from 0.4% in the previous quarter, indicating weakened consumer demand due to inflation outpacing wage growth [6] Future Economic Projections - Some economists believe that the Bank of Japan will assess the effectiveness of government measures in its January economic report before deciding on further actions [7] - The potential for a rebound in economic activity in the fourth quarter could influence the central bank's decisions regarding monetary policy tightening in early 2024 [6][7]
日本经济增长萎缩 投资者抛售日债
Xin Hua Cai Jing·2025-11-17 13:43