JGBs remain flat ahead of long-term 30-year auction amid silent trading week

The Japanese government bonds remained flat Wednesday as investors wait to watch the country’s 30-year auction, scheduled to be held on April 12 by 03:45GMT amid a silent trading week that witnessed data of least economic significance.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, hovered around 0.03 percent, the yield on the long-term 30-year note slipped 1 basis point to 0.72 percent and the yield on short-term 2-year remained flat at -0.15 percent by 04:40 GMT.

Chinese President Xi’s keynote address at the Boao Forum saw pledges to cut vehicle import tariffs, ease foreign equity restrictions for automotive, open shipping, aviation, financial sectors for more foreign investment, strengthen property-right protection, oppose monopolies, and use dialogue to resolve disputes.

Meanwhile, the Nikkei 225 index traded 0.32 percent lower at 21,724.00 by 04:45 GMT, while at 04:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -60.92 (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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