#bond-yields

#bond-yields

The Japanese Yen has enjoyed a sharp bout of buying pressure this morning, as traders react to commentary from the Finance Minister who claimed she has a "free hand" in addressing the excessive currency volatility. Coming as USDJPY approached 158, we are trading at levels that have previously seen the government intervene in a bid to stem selling pressure for the yen.

If Rachel Reeves mishandles the Budget, gilt markets will deliver a damning verdict in minutes, triggering a chain-reaction of events, warns the CEO of one of the world's largest independent financial advisory organizations. The warning from Nigel Green of deVere Group comes after last week's bonds sell-off proved how quickly confidence evaporates when fiscal intentions look uncertain, with 10-year yields surging in their biggest single-day move since July and forcing investors to reprice UK risk across the board.

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Bond yields tumbled as the weaker-than-expected jobs report raised expectations for rate cuts from the Federal Reserve. That sent the average rate on the 30-year fixed mortgage to the lowest level since October 2024. The steep drop could help shake up the housing market, which has seen a dearth of activity amid high home prices and borrowing costs. After a disappointing spring and summer, the housing market could start to heat up as fall approaches with the latest plunge in mortgage rates.