Political Uncertainty Weighing on JGBs Amid Broader Selloff -- Market Talk

Dow Jones

Sep 03

0847 GMT - Political uncertainty surrounding Japan PM Ishiba's leadership and his replacement if he were to step down are weighing on JGBs, says Magdalene Teo at Julius Baer. Concerns that he could be replaced by someone seeking more fiscal spending--potentially worsening the fiscal outlook--are pushing yields up, she says. There is also wariness about the volatile auction market. A less hawkish-than-expected BOJ deputy governor speech buoyed the 10-year auction Tuesday, but the two-year auction a week ago drew poor appetite, fueling worries that pressure on the long-end is spilling over to the short end, Teo says. JGBs face risk from U.S. Treasurys price pressure, lower BOJ demand as it trims buying, and rate expectations amid sticky inflation. Investors will eye Thursday's 30-year JGB auction. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

September 03, 2025 04:47 ET (08:47 GMT)

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Concerns that he could be replaced by someone seeking more fiscal spending--potentially worsening the fiscal outlook--are pushing yields up, she says. There is also wariness about the volatile auction market. A less hawkish-than-expected BOJ deputy governor speech buoyed the 10-year auction Tuesday, but the two-year auction a week ago drew poor appetite, fueling worries that pressure on the long-end is spilling over to the short end, Teo says. JGBs face risk from U.S. Treasurys price pressure, lower BOJ demand as it trims buying, and rate expectations amid sticky inflation. Investors will eye Thursday's 30-year JGB auction. 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Concerns that he could be replaced by someone seeking more fiscal spending--potentially worsening the fiscal outlook--are pushing yields up, she says. There is also wariness about the volatile auction market. A less hawkish-than-expected BOJ deputy governor speech buoyed the 10-year auction Tuesday, but the two-year auction a week ago drew poor appetite, fueling worries that pressure on the long-end is spilling over to the short end, Teo says. JGBs face risk from U.S. Treasurys price pressure, lower BOJ demand as it trims buying, and rate expectations amid sticky inflation. Investors will eye Thursday's 30-year JGB auction. (fabiana.negrinochoa@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 03, 2025 04:47 ET (08:47 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2564636507","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2564636507","pubTimestamp":1756889220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2025 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"在更广泛的抛售中，政治不确定性给日本国债带来压力——市场讨论","themeId":"717c791edae06f67a53332be85f45221","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"USDJPY.FOREX":0.7},"content_text":"0847 GMT - Political uncertainty surrounding Japan PM Ishiba's leadership and his replacement if he were to step down are weighing on JGBs, says Magdalene Teo at Julius Baer. Concerns that he could be replaced by someone seeking more fiscal spending--potentially worsening the fiscal outlook--are pushing yields up, she says. There is also wariness about the volatile auction market. A less hawkish-than-expected BOJ deputy governor speech buoyed the 10-year auction Tuesday, but the two-year auction a week ago drew poor appetite, fueling worries that pressure on the long-end is spilling over to the short end, Teo says. JGBs face risk from U.S. Treasurys price pressure, lower BOJ demand as it trims buying, and rate expectations amid sticky inflation. Investors will eye Thursday's 30-year JGB auction. (fabiana.negrinochoa@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 03, 2025 04:47 ET (08:47 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}