HALISTER1: JGBs Fall on Profit-Taking, Position Reduction: MUFJ Trust

JGBs Fall on Profit-Taking, Position Reduction: MUFJ Trust

(Bloomberg) -- JGBs drop on profit-taking and paring of positions ahead of BOJ’s decision tomorrow and Golden Week holidays next week, says Hideo Suzuki, chief manager for forex and financial products trading at Mitsubishi UFJ Trust & Banking.
  • Rise in both overseas bond yields and oil prices are also weighing on JGB prices, says Tokyo-based Suzuki in an interview; says, however, local debt market may be supported by light dip-buying interest amid expectations of aggressive BOJ easing
  • Adds any BOJ policy action except for lowering negative rate or expanding JGB purchases could have a negative impact on JGB market
  • 2-year yield rises 1 bp to -0.260%, 5-year yield adds 1.5 bps to -0.220%, 10-year yield gains 2.5 bps to -0.080% and 20-year yield climbs 3 bps to 0.335%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Hideo Suzuki (Mitsubishi UFJ Financial Group Inc)

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