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The Japanese government bonds closed nearly flat Tuesday ahead of the Federal Reserve and Bank of Japan’s (BoJ) monetary policy meetings, scheduled for later this week amid an otherwise muted trading session that witnessed data of little economic significance.
At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, edged tad up to -0.152 percent, the yield on the long-term 30-year hovered around 0.346 percent and the yield on short-term 2-year also gained slightly to -0.240 percent.
Global risk appetite may attempt to rally on the back that the US and Japan had reached a trade deal, albeit there were few details to go on (especially for the auto tariffs) which may only come at the UN General Meeting later this month, OCBC Treasury Research reported.
Brent oil prices which spiked 19 percent intra-day yesterday following the drone attacks in Saudi Arabia may gradually normalise as supply is restored, but it’s still early days yet, the report added.
Meanwhile, the Nikkei 225 index closed tad 0.06 percent up at 22,001.32.
