恐慌指數VIX創下超過一週以來的新高，上漲0.85點，報16.04。

The PBOC conducted 469.7 bln yuan of overnight reverse repos while 565.5 bln yuan of overnight reverse repos matured, producing a net withdrawal of 95.8 bln yuan. No other reverse-repo tenors were conducted today.

DBS Group Research says the Bank of Japan could accelerate its rate-hike cadence from about one every six months to one every 3–4 months. DBS has moved its expected next BOJ hike forward to September and forecasts two further hikes in Q1 and Q2 2027, taking the overnight call rate to 1.75% by mid-2027. Analysts note BOJ rhetoric has turned more hawkish and the government appears less opposed to earlier tightening. DBS raises Japan GDP forecasts to 0.9% for 2026 (from 0.5%) and 1.0% for 2027 (from 0.5%).