HALISTER1: Long-Term JGBs Rise; 40-Year Sale Had ’Strong’ Outcome: BNP

Long-Term JGBs Rise; 40-Year Sale Had ’Strong’ Outcome: BNP

(Bloomberg) -- Outcome of today’s 40-year JGB sale was “strong” as investors are focusing their demand on tenors that offer positive yields, says Tomohisa Fujiki, chief rates strategist at BNP Paribas, in an interview.
  • Short-covering by brokers may have also contributed to “strong” result: Tokyo-based Fujiki; NOTE: 40-year JGB auction draws most demand since Feb. 2015
  • Yield on 40-year JGBs slips 2.5 bps to 1.095% in secondary market after earlier touching record low of 1.085%; 30-year yield down 0.5 bp to 0.985% and 20-year yield down 1.5 bps to 0.665%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Tomohisa Fujiki (BNP Paribas SA)

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