JGBs flat ahead of March trade balance data, national consumer price inflation

The Japanese government bonds remained flat Monday as investors wait to watch the country’s trade balance data for the month of March and the national consumer price inflation (CPI) data for the similar period, scheduled to be released on April 17 and April 19 by 23:50GMT and 23:30GMT respectively.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, hovered around 0.04 percent, the yield on the long-term 30-year note nearly steadied at 0.70 percent and the yield on short-term 2-year remained flat at -0.15 percent by 04:50 GMT.

Japan’s exports were expected to rise for a 16th straight month in March and to maintain a rising trend, but the strong yen was seen likely to curb the pace of growth, a Reuters poll showed on Friday.

The trade data will be closely watched ahead of talks next week between Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump, with trade issues expected to be high on the agenda.

The poll also found the core consumer price index, which includes oil products but excludes volatile fresh food prices, was expected to rise 0.9 percent in March from a year ago versus a 1.0 percent gain in February.

Meanwhile, the Nikkei 335 index traded 0.29 percent higher at 21,841.50 by 04:55 GMT, while at 04:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -51.48 (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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