0418 GMT - The 10-year JGB yield may see further upside from here, OCBC's Global Markets Research says, citing this morning's release of higher-than-expected headline CPI and core CPI for Tokyo in November. The 10-year JGB yield has already risen recently to OCBC's near-term target range of 1.05%-1.15%, it says in a research report. Overnight index swaps in Japan now price around 16bps worth of a BOJ rate increase in December, in line with OCBC's base-case for a 15bps hike. OCBC forecasts three 15bps rate increases in 2025, which would bring policy rate to 0.85% by end-2025. The 10-year JGB yield is up 0.5bp at 1.055%. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 28, 2024 23:18 ET (04:18 GMT)
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