HALISTER1: Short to Mid-Term JGBs Heavy Amid Lack of BOJ Speculation: Daiwa

Short to Mid-Term JGBs Heavy Amid Lack of BOJ Speculation: Daiwa

(Bloomberg) -- Yields in short to medium term part of JGB curve are unlikely to see much downward pressure due to absence of speculation on further interest rate cut by the BOJ, Keiko Onogi, fixed-income strategist at Daiwa Securities, says.
  • However, rise in the yields of those sectors has at least been halted by BOJ’s fixed-rate bond-purchase operation
  • BOJ will probably maintain the amount for December bond purchase operation
    • NOTE: Bond purchase plan for December is due on Wednesday
  • The central bank is expected to conduct fixed-rate operation when it sees yields rising excessively while it will probably reduce the amount of bond purchases when yield decline is deemed excessive: Daiwa
  • Yield on 10-year govt bond rises 0.5bps to 0.015%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Keiko Onogi (Daiwa Securities Group Inc)

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