According to data from Jin Shi, Barclays stated that the Japanese government bond market may currently trade in a range. The market's expectations for the Bank of Japan to raise interest rates may take time to recover due to the need for more certainty in US-Japan trade negotiations and US policies. The attractiveness of 10-year Japanese government bond yields should support range trading. If the Bank of Japan raises interest rates before January 2026, short-term bond yields may rise, but short-term and medium-term bonds may remain in a range for a while, depending on the outcomes of trade policy.