JGBs Edge Lower, Tracking Declines in U.S. Treasurys
Dow Jones
Sep 29
0028 GMT - JGBs edge lower in the morning Tokyo session, tracking overnight price declines in U.S. Treasurys. Japan's bond market may also be weighed down by rising oil prices that could spur a faster pace of BOJ rate increases. However, given the small size of the Japanese Finance Ministry's auction today of 40-year JGBs and the current 40-year yield level, the sale may produce a "neutral to slightly strong" outcome, SMBC Nikko Securities' senior Japan rates strategist Miki Den says in a research report. The ministry is scheduled to auction about 300 billion yen of 40-year JGBs. The 10-year JGB yield is 0.5bps higher at 3.090%.
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