JGBs Fall Amid Expectations for Faster Pace of BOJ Rate Increases
Dow Jones
Aug 18
0033 GMT - JGBs fall in price terms in early Tokyo trade amid expectations for a faster pace of BOJ rate increases. "Market is pricing in just under an 80% probability of a BoJ rate hike in September, up from around 65% as of August 7," Mitsubishi UFJ Morgan Stanley Securities' fixed income strategists say in recent note. "Rate hike expectations picked up following a series of media reports that boosted the prospects of an early tightening move," they say. "Market's attention has already shifted to the future pace of rate hikes, which is likely to help stoke investor concerns about an acceleration of tightening," the strategists add. The 10-year JGB yield rises 2.5 bps to 2.945%, its highest intraday level since September 1996.
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