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The Japanese government bonds remained flat Thursday as investors traded sideways, following balanced comments from the Bank of Japan’s Governor Haruhiko Kuroda on the country’s economic growth as well as inflation.
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 0.71 percent and the yield on short-term 2-year remained flat at -0.15 percent by 04:50 GMT.
Kuroda said Japan’s economy will continue expanding moderately as rising household income drives up spending.
"With the output gap improving and medium- to long-term inflation expectations seen heightening, we expect inflation to accelerate as a trend and head toward 2 percent", Reuters reported, citing Kuroda’s statement from a quarterly meeting of the BoJ’s regional branch managers.
Meanwhile, the Nikkei 225 index traded 0.05 percent lower at 21,676.50 by 05:05 GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -33.73 (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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