JGBs remain flat in muted trading ahead of April national core CPI

Japanese government bonds remained flat during late Asian session Thursday amid a muted trading session that witnessed data of little economic significance, except for the country’s national core consumer price inflation (CPI) data, scheduled to be released today by 23:30GMT.

The yield on the benchmark 10-year JGB note, which moves inversely to its price, hovered around 0.05 percent, the yield on the long-term 30-year note remained 1 basis point higher at 0.76 percent and the yield on short-term 1-year traded flat at -0.13 percent by 05:00 GMT.

The USD, UST bond yields (with a new high of 3.1 percent seen for the 10-year bond) and Wall Street climbed overnight. The latter may modestly inspire Asian bourses this morning, especially with news that Malaysia will cut its GST rate from 6 percent to 0 percent from June 1, even though hints by North Korea that they may pull out from the upcoming Trump-Kim talks on June 12 could dampen risk-taking sentiment.

Meanwhile, the Nikkei 225 index traded 0.68 percent higher at 22,871.00 by 05:05 GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -66.10 (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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