December 19, 2025
United States:
US Treasuries Head for First Weekly Gain Since November
Benchmark US Treasuries are on track for their first weekly gain since November after unexpectedly cool inflation numbers and a jump in the jobless rate cemented expectations that the Federal Reserve will cut rates at least twice next year.
The 10-year Treasury yield is set for a roughly four basis points weekly decline, while the policy-sensitive two-year yield has fallen further as markets price in a more dovish 2026 path.
Europe:
German GDP to ‘Strengthen Markedly’ in 2026, Bundesbank Says
Germany’s economy will gradually recover next year and gain momentum in 2027, helped by higher public outlays on defense and infrastructure, the Bundesbank said.
Gross domestic product will expand 0.6% in 2026, 1.3% in 2027 and 1.1% in 2028, the central bank said in new forecasts published Friday.
Asia:
Yen Weakens Despite BOJ Hiking Rate to Highest Level Since 1995
The Bank of Japan raised its benchmark interest rate to the highest in 30 years and signaled more hikes are likely in the pipeline, yet the yen weakened from disappointment that the messaging from the central bank wasn’t stronger.
Governor Kazuo Ueda’s policy board increased the rate by a quarter percentage point to 0.75% in a unanimous decision, according to its statement Friday.
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