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The Japanese government bonds remained tad higher towards the end of Asian session Monday after the country’s industrial production missed market expectations during the month of August, lower than the reading in July as well. Investors will now eye the trade balance data for September, due to be released on October 17 by 23:50GMT for added direction in the debt market.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, slipped nearly 1 basis point to 0.141 percent, the yield on the long-term 30-year note hovered around 0.911 percent and the yield on short-term 2-year too traded tad lower at -0.115 percent by 05:25GMT.
Japan’s industrial production came in at 0.2 percent m/m, falling short of market expectations at 0.7 percent, also lower than the July reading of 0.7 percent.
Meanwhile, the Nikkei 225 index slumped 1.77 percent to 22,312.00 by 05:30GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained slightly bullish at 88.53 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
