Naomi Hasegawa
Naomi Hasegawa
above buying gain hold lead nerves pushing test
A gain in the Nikkei above 16,500 will test investors' nerves and lead them to hold off buying bonds, pushing up yields.
bank bond bubble comfort continue investors japanese lifts market monetary policy rate robust stocks view
US Treasuries, particularly long-term bonds, were robust on Friday, when the Japanese market was closed. Some bond investors view the surge in stocks as bubble while some investors take comfort in the view that the zero-interest rate policy will continue even after the Bank of Japan lifts ultra-loose monetary stance.
fresh market payroll positions release reluctant
Market participants are reluctant to take fresh positions before the release of Jan US non-farm payroll data.
action appear bank central lose market takes unless
Market expectations appear to be accelerating and unless the central bank takes action soon, it may lose the market's confidence.
attention bonds buy hard paying people reason yields
People are paying attention to what Fukui will say. It's hard to find a reason to buy bonds as yields are rising.
bargains fall further investors likely prices purchases round targeting
Once a round of purchases by investors targeting bargains wanes, JGB prices will likely fall further going forward.
bond directly example market textbook
The bond market reacted directly to the equities market, like a textbook example.
appear bank decision implement market measures plans within
The Bank of Japan's decision was well anticipated. Most measures it plans to implement appear to be within market expectations.
buy dislike investors news trigger
The news could be a trigger to buy bonds. Investors dislike uncertainty.
bonds might selling
We might see some selling in 20-year bonds before the auction.
actively bond boost debt fairly good government outcome prices purchased supported
Bond prices got a boost from the fairly good outcome of today's two-year debt auction, while index-trackers actively purchased government debt paper, which supported the market.
against cast keeping makers negative policy votes
There's speculation out there that more policy makers will cast votes against keeping the policy unchanged. That is negative for bonds.
concern core crude decline fall negative oil perhaps territory worry
There was some concern that the core CPI would fall back into negative territory owing to a decline in oil prices, but perhaps we don't have to worry about that scenario, as crude futures have rebounded recently.
avoided chaos concern demand easy economic fair japan later monetary next notes policy political provides raised recovery signs sooner stocks strong wind
There's concern about demand for new five-year notes as signs of economic recovery raised speculation an end of easy monetary policy will come sooner than later next year. Japan avoided political chaos with Koizumi's strong victory, which provides a fair wind to stocks and a recovery scenario.