Headline CPI Actual: 2.7% Estimated: 3.1% Prior: 3.0%
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Unrealized losses at Japan's regional banks are surging: Unrealized losses for Japanese regional banks on domestic bond holdings surged +$4 billion in Fiscal Q2 2025, ending September 30th, to a record $21.3 billion. This marks a 260% increase since March 2024, when the Bank of Japan hiked rates for the first time since 2007. Banks now face their 5th consecutive year with unrealized losses on bond holdings. This comes as Japanese government bonds have seen their most severe price decline in history. Japan's bond market is in trouble.
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The Federal Reserve has officially ended quantitative tightening (QT).
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