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Japanese government bonds traded flat during late Asian session Tuesday after the country’s unemployment rate for the month of April remained unchanged, with investors now focussing on Japan’s retail sales and industrial production data, scheduled to be released today and on May 30 by 23:50GMT respectively.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, hovered around 0.03 percent, the yield on the long-term 30-year note slumped 2 basis points to 0.71 percent and the yield on short-term 2-year traded flat at -0.14 percent by 05:00GMT.
Japan's unemployment rate in April stood at 2.5 percent, unchanged from the previous month, in a sign that labor market conditions remained tight amid a modest economic recovery, the government said Tuesday.
Job availability was also unchanged at 1.59, the Ministry of Health, Labor and Welfare said. The ratio means there were 159 job openings for every 100 workers. The reported jobless rate is near the lowest level in 25 years, the Ministry of Internal Affairs and Communications said. The unemployment rate fell to 2.4 percent in January, the lowest since 1993.
Meanwhile, the Nikkei 225 index traded 0.82 percent lower at 22,297.50 by 05:10 GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained highly bullish at 179.64 (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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