0231 GMT - JGBs are likely to be the solo underperformer among G-10 government bonds next year, two members of Goldman Sachs Research say in a research report. This is because the Bank of Japan is poised to be the only G-10 central bank to raise rates in 2025 as the BOJ continues its steady and gradual rate increases alongside re-anchoring inflation expectations, they say. GS's base-case scenario is for a January rate hike, which is unlikely to be the last one during this cycle. Implication continues to be higher "belly" yields on the JGB curve, they add. GS forecasts the 10-year JGB yield to reach 1.6% by end-2025. The JGB 10-year yield is up 1 bp at 1.075%.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 11, 2024 21:31 ET (02:31 GMT)
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