JGBs remain mixed as investors await 30-year auction, Q3 GDP

The Japanese government bonds remained mixed on the first trading day of the week Monday, as investors wait to watch the country’s 30-year auction and the gross domestic product (GDP) for the third quarter of this year, both scheduled to be unveiled on November 13 by 03:35GMT and 23:50GMT respectively.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, jumped nearly 12 basis points to 0.119 percent, the yield on the long-term 30-year note hovered around 0.886 percent and the yield on short-term 3-year slumped 13-1/2 basis points to -0.135 percent by 05:40GMT.

According to a report from Nasdaq, "Japan's economy was expected to shrink in the third quarter after natural disasters disrupted production and a slowdown in overseas demand undermined exports."

"Gross domestic product (GDP) grew an annualized 3.0 percent in April-June on strong capital spending, the fastest growth since 2016, but was seen shrinking 0.3 percent quarter-on-quarter in July-September, an annualized rate of 1.0 percent", Nasdaq added.

Meanwhile, the Nikkei 225 index traded 0.07 percent higher at 22,269.50 by 05:50GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 17.49 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex