The screen displays the average value of Nikkei 225 shares on the Tokyo Stock Exchange (TSE), served by the Japan Exchange Group Inc. (JPX), In Tokyo, Japan, on Monday, October 30, 2023, the extension of the US ground operation in Gaz added more pressure to global markets, because investors are preparing for hard -working week packed in the main banking decisions and a high US announcement. Photographer: Akio Kon/Bloomberg by Getty Images
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Renki with Japanese government bonds increased on Thursday, and the 10-year JGB profitability reached the highest level since June 2009, and experts pointed to the pressure of global bond sales.
The performance on 10-year JGB increased by almost 8 base points to exceed 1.5% for the first time since 2009, while in 30-year bonds it increased by 13 base points to violate the 2.5% rating for the first time since 2008.
Masahiko Loo, a senior strategist with a constant income at the State Street Global Advisors at State Street Global Advisors at State Street Global Advisors at State Street Global Advisors at State Street Global Advisors at State Street Global Advisors at State Street Global Advisors at State Street Global in State Street Global at State Street Global at State Street Global at State Street Global in State Street Global at State Street Global at State Street Global at State Street Global at State Street Global at State Street Global at State Street Global at State Street Global at State Street Global in State Street Global at State Street Global in State Street Global at Advisors at State Street Street Global Advisors was in cooperation with pressure on global profitability. The 10-year profitability of the American Treasury increased by 5 base points to 4.317%.
The head of the FX Nomura Strategy for Japan Yujiro Goto told CNBC that the demand for supply did not support the JGB market, and at the same time indicating a rapid increase in the profitability of European government bonds.
“Investors now expect that the EU and German government will increase fiscal expenses, which increases pressure on global yields of bonds,” he said.
German 10-year bond profitability increased to the highest point from October 2023, reaching 2.8%.
Comments of the Deputy Bank of Japan Shinichi Uchida also contributed to the sale. Apparently, Uchida said that the central bank would probably “increase interest rates in accordance with the dominant views between financial markets and economists.”
Investors such as Japanese banks were out of the way with limited appetite at the risk before the end of the budget year in March, in addition to further expectations regarding the series of BOJ's migration, said Loo.
Last week Uchida Apparently he said that the central bank would continue to reduce the purchases of government bonds despite the recent increase in efficiency.
Because the central bank resorted to normalize its ultra-los monetary policy last year, he said it would be Reduce JGBS purchases About 400 billion yen each calendar quarter.
Japan 30 -year -old treasure
Mitul Kotecha, head of Asia FX and foot strategy in Barclays, said CNBC, “Squawk Box asia“On Thursday, the sale was partly fueled by the increase in Japan inflation:” Many people (ma), saying that real inflation is even higher than the actual means show. So I think that part of this is the inflation movement, which increases performance. “
Japanese urgent inflation It remained above 2% BJ for 34 simple months, and the last number in January reached the highest level of 4%.
The so -called “basic” inflation rate, which displaces the prices of both fresh food and energy and is strictly monitored by BOD, increased slightly to 2.5% in January, reaching the highest rate from March 2024.
The higher inflation rate increases the expectations of major foot increases by BOJ, increasing the yields of the bond.