JGBs Edge Lower, Tracking Declines Across Most U.S. Treasurys
Dow Jones
13 hours ago
0009 GMT - JGBs edge lower in early Tokyo trade, tracking overnight price declines across most U.S. Treasurys. Both JGBs and Treasurys tend to move in tandem. The market's focus is likely to be on today's auction by Japan's Finance Ministry of about 2.6 trillion yen of 10-year sovereign securities. "While there is long-term appeal and some value on the curve, demand will not rise sharply in this environment," Citi Research's rates strategist Tomohisa Fujiki says in a research report. The 10-year JGB yield rises 1.5 bps to 2.955%, its highest intraday level since Sept. 1996.
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