#圣诞节到来，行情会如何变化？ As US treasury yields surge, non-US currencies face immense devaluation pressure and capital outflow pressure intensifies. This has also fueled expectations of a rate hike for the Japanese yen. Despite the denial of recent interest rate hikes by the Japanese Central Bank, Nomura predicts that the Bank will raise the Benchmark Interest Rate in March 2025 and then raise it to 1% through two rate hikes. The risk of a reversal in yen carry trades has once again become a market focus.