Divergence in policy expectations between the US and Japan leads to a decline in US stock futures, a pullback in gold and silver, a rebound in cryptocurrencies, and strong auction demand pushing up Japanese bonds

The global market is currently in a game of oscillation and repair, with a divergence in major central bank policies. The expectation of interest rate cuts by the Federal Reserve and the increasing probability of interest rate hikes by the Bank of Japan have led to a decline in U.S. stock futures, while Japanese government bonds have risen in price due to strong auction demand, and cryptocurrencies have rebounded from their decline. The market is focused on the monetary policy meetings of the Federal Reserve and the Bank of Japan. The rise in Japanese government bond yields may push up the yields of other long-term sovereign bonds, increasing government borrowing costs