JGB Futures Fall, Tracking Declines in U.S. Treasury Market
Dow Jones
Aug 21
0030 GMT - JGB futures fall in early Tokyo trade, tracking overnight price declines in U.S. Treasury market. JGBs and Treasurys tend to move in tandem. Investors have "expressed scepticism that the U.S. Treasury's planned increased bond buybacks would help lower longer-end yields," says Gavin Friend, senior market strategist at NAB, in commentary. Also, data released earlier showed Japan's consumer inflation picked up in July, which could add to expectations for a near-term BOJ rate increase. Consumer prices, excluding fresh food, climbed 1.8% in July from a year earlier, compared with June's 1.6% increase. Benchmark 10-year JGB futures are 0.24 yen lower at 126.48 yen.
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