Market Information Tuesday 28 April 2026

The Bank of Japan (BOJ) held its policy rate steady at 0.75% in a 6-3 vote, with dissenting members advocating an increase to 1%. The BOJ cut its fiscal year 2026 growth forecast from 1% to 0.5% and raised its core inflation outlook from 1.9% to 2.8%, citing Middle East supply-side risks. The 10-year Japanese government bond yield recently peaked at 2.496%, its highest since 1997, while the yen has weakened over 1.5% this year, trading at 159.12 against the dollar.

U.S. President Donald Trump has rejected Iran’s latest peace proposal, which would defer nuclear discussions until after the war ends and Strait of Hormuz shipping disputes are resolved. The U.S. insists nuclear issues must be addressed from the outset. Meanwhile, oil prices are rising again as crude flows through the Strait of Hormuz remain severely constrained, with only seven ships crossing daily compared to 125 to 140 before the war. Peace talks show little progress, with Trump’s special envoy cancelling a planned visit to Islamabad last weekend.

US consumer sentiment fell to 49.8 in April, its lowest level since records began in 1978, according to the University of Michigan. The reading is down 6.6% from March and 4.6% year-on-year, driven by rising inflation and geopolitical uncertainty stemming from the Iran war. The current situation sub-index dropped 12.2% year-on-year to 52.5, while short-term inflation expectations jumped sharply from 3.8% to 4.7%, the largest monthly increase since April 2025. Long-term inflation expectations reached 3.5%, their highest since October 2025.

The 6M Euribor increased with 3 basis points to 2.46% compared to previous business day. The 10Y Swap increased with 4 basis points to 3.07% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.