Goldman Sachs's research team said in a report that Goldman Sachs lowered its forecast for the 10-year Japanese Treasury yield at the end of 2025 to 1.50% from 1.60% previously to reflect the increased risk of a US recession. Goldman Sachs said that the increased risk of such an outcome may affect the market's pricing of the Bank of Japan's continued tightening policy. Goldman Sachs said, “The downturn in the stock market and the relatively low growth rate of the US economy also tilt the risk towards a stronger yen.” The 10-year Japanese Treasury yield fell 1 basis point to 1.490%.

Goldman Sachs's research team said in a report that Goldman Sachs lowered its forecast for the 10-year Japanese Treasury yield at the end of 2025 to 1.50% from 1.60% previously to reflect the increased risk of a US recession. Goldman Sachs said that the increased risk of such an outcome may affect the market's pricing of the Bank of Japan's continued tightening policy. Goldman Sachs said, “The downturn in the stock market and the relatively low growth rate of the US economy also tilt the risk towards a stronger yen.” The 10-year Japanese Treasury yield fell 1 basis point to 1.490%.