Bond yields ratcheted higher globally last week, with a key trigger being shifting interest rate expectations in Japan. Will there be moves to repatriate overseas bond holdings to take advantage of these higher domestic rates? Read on for a breakdown of fixed income news across sectors and regions.

This week we take a closer look at Japan and the likelihood of an interest rate hike at the end of December.

Improvements have been driven by banks and defence, and these may continue to perform, but as earnings growth rises in 2026 we expect performance to deepen.