Australian bonds slump after U.S.-China trade tension disturbs investors once again; Sep labour report disappoints
Australia’s ANZ-Roy Morgan consumer confidence registers second straight weekly loss, inflation expectations stable
China likely to maintain full year growth at 6.0 pct in 2019, unless GDP growth falls below 5.5 pct y/y in Q4, says ANZ Research
Fed’s dovish stance and balance sheet re-expansion likely to weigh on dollar in months ahead, says Scotiabank
JGB yields fly at close as investors shy away from safe-haven assets in run-up to G-20 Summit
The Japanese government bond yields close on a higher note Thursday as investors continued to stay away from safe-haven instruments in the run-up to the G-20 Summit starting Friday, where the United States and China are expected to strike a chord on the long-pending trade agreement.
At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, jumped 7 basis points to -0.140 percent, the yield on the long-term 30-year edged 2 basis points higher to 0.390 percent and the yield on short-term 2-year surged 5 basis points to -0.210 percent.
According to a report from Reuters, citing the South China Morning Post, Washington and Beijing have agreed to a tentative truce in their trade dispute ahead of the G20 summit, which geared up stock markets in Asia as well.
With this, Japan’s 2-year JPY2 trillion bond auction, held early today, failed to attract much attention, as the bid-to-cover ratio, fell to 4.39 from 5.44 at the previous auction held in May.
Meanwhile, the Nikkei 225 index closed 1.06 percent higher at 21,310.50, while at 06:00GMT, the FxWirePro's Hourly JPY Strength Index remained slightly bearish at -96.33 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex