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The Japanese government bonds remained tad higher Monday after the country’s current account balance for the month of February narrowly missed market estimates, albeit rising in comparison to that in January on a non-seasonally adjusted basis. However, the adjusted balance ditched both market expectations as well as came in lower than the prior month’s reading.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, remained tad lower at 0.03 percent, the yield on the long-term 30-year note hovered around 0.74 percent and the yield on short-term 2-year edged slightly lower at -0.14 percent by 04:55 GMT.
Japan posted a current account surplus of JPY2.08 trillion (USD19 billion) in February, although shrinking from a year ago due to a smaller trade surplus and a stronger yen, government data showed Monday.
Despite a 28.7 percent drop in the current account surplus, the country managed to stay in the black for the 44th straight month, as Japan continued to draw fruits of gain following strong earnings from foreign investment.
Meanwhile, the Nikkei 225 index traded 0.72 percent higher at 21,722.00 by 04:55 GMT, while at 04:00GMT, the FxWirePro's Hourly JPY Strength Index remained highly bearish at -131.42 (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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