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BoJ and Tepid European Inflation Data Help Reverse Global Bond Yield Pressure
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BoJ and Tepid European Inflation Data Help Reverse Global Bond Yield Pressure

Big rally in Japanese bonds amid new fiscal rumors

David Rosenberg's avatar
David Rosenberg
May 27, 2025
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Early Morning with Dave
Early Morning with Dave
BoJ and Tepid European Inflation Data Help Reverse Global Bond Yield Pressure
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Highlights

• Big rally in Japanese bonds amid new fiscal rumors

• EU said to be fast-tracking trade talks with the U.S.

• Retail inflows through ETFs are a big market support

• Chinese growth has been strong, but is partly artificial

Key Takeaways

• EU Trade Talks Said to be Accelerating: In the overnight trade, it is nothing but risk-on as the markets feed off the news that the EU is now going to “fast track” trade talks with the U.S. in order to avert an additional 50% tariff hike. Dow futures are up over +500 points which more than wipes out Friday’s loss, while European markets have edged higher by +0.3% here in the early going. Asia, again, turned in a mixed performance overall.

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