The Japanese government bond yields jumped after investors shifted their interests toward riskier assets following a short-covering across all markets.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, improved to -0.062 percent, the yield on the long-term 30-year surged nearly 3 basis points to 0.534 percent and the yield on short-term 2-year jumped to -0.165 percent by 06:40GMT.
Asian markets recovered sharply after the benchmark Nikkei 225 index jumped more than 2 percent on short covering. Global markets shown a massive sell-off yesterday on declining bond yield.
US 10-year yield hit 2.37 percent yesterday lowest level since 2017. US 3 month and 10 year yield has inverted for first time since 2007. USD/JPY has halted its weakness and shown a minor recovery above 110. US markets has closed flat with Dow Jones at 25516 (0.06 percent higher) and S&P500 2798 (0.08 percent lower).
Meanwhile, the Nikkei 225 index jumped over 2 percent to 21,416.50 at the time of closing, while at 06:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 56.69 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex


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