Short-Term JGBs Edge Higher, Tracking Gains in Similar-Dated U.S. Treasurys
Dow Jones
Yesterday
0023 GMT - Short-term JGBs edge higher in the early Tokyo session, tracking overnight price gains in similar-dated U.S. Treasurys. Both JGBs and Treasurys tend to move in tandem. For today, investors may focus on the Japanese Finance Ministry's auction of about 2.8 trillion yen of two-year sovereign notes. "Although upside risks to yields remain, demand is likely to emerge as 2y JGB yields approach the 2% level," SMBC Nikko Securities' Lisa Mochizuki says in a research report. "We therefore expect the auction to clear smoothly," the junior analyst adds. The two-year JGB yield edges 1 bp lower to 1.950%.
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