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The Japanese government bonds remained nearly flat towards the close of Asian session Wednesday amid a silent day that witnessed data of little economic significance ahead of the country’s industrial production and retail sales data for the month of February, both scheduled to be released on March 28 by 23:50GMT respectively.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, hovered around -0.067 percent, the yield on the long-term 30-year traded flat at 0.537 percent and the yield on short-term 2-year remained tad higher at -0.163 percent by 05:35GMT.
Global risk appetite appeared to be stabilizing further. The S&P500 notched out 0.7 percent gains and the UST bond yields are generally firmer across the board, despite a strong 2-year auction, albeit the 3-month to 10-year curve remained inverted, OCBC Treasury Research reported.
Crude oil prices also rose after Russia signalled its commitment to output cuts. Meanwhile, expectations are being raised for the upcoming US delegation to Beijing tomorrow for trade talks, as Lighthizer signalled his hopes for a deal, the report added.
Meanwhile, the Nikkei 225 index slipped nearly 0.50 percent to 21,332.50 by 05:40, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -49.61 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
