Speculation of Faster FFR Increase. Benchmark FR0087’s yield rose nearly 2bps, in line with UST10Y yields. Market participants responded negatively to the increase in inflation in the United States (US) last October. The release of US Consumer Price Index (CPI) data showed an inflation rate of 0.9% last October or 6.2% YoY. The rapid increase in inflation has again raised expectations that the Fed will accelerate the increase in the Fed Funds Rate (FFR) interest rate in 2022.

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