JGBs remain flat ahead of October retail sales, industrial production data

The Japanese government bonds remained flat during Asian session Monday ahead of the country’s retail sales and industrial production data for the month of October, scheduled to be released on November 28 and 29 respectively by 23:50GMT.

The yield on the benchmark 10-year JGB note, which moves inversely to its price, remained tad higher at 0.089 percent, the yield on the long-term 30-year note hovered around 0.825 percent and the yield on short-term 2-year too remained nearly flat at -0.143 percent by 05:50GMT.

According to a recent Reuters poll, Japan’s industrial output likely rebounded in October after the previous month’s drop due to natural disasters, which would give encouragement that the economy could show growth this quarter.

Further, retail sales probably grew at faster annual pace than in September, reflecting a tight labor market and gradual wage growth, it showed.

Meanwhile, the Nikkei 225 index traded 0.84 higher at 21,828.00 by 05:55GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 12.75 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex