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The Japanese government bonds remained mixed towards the close of Asian session on the first trading day of the week Monday as investors await the country’s 10-year and 30-year auctions, scheduled to be held on March 5 and 7 at 03:35GMT respectively.
Also, participants will keep a close eye on Japan’s gross domestic product (GDP) for the fourth quarter of 2018, due for release on March 7 by 23:50GMT for further direction in the debt market.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, remained flat at -0.001 percent, the yield on the long-term 30-year fell 2 basis points to 0.641 percent and the yield on short-term 2-year remained tad lower at -0.141 percent by 05:30GMT.
Asian markets may trade with a firmer tone to start the week. The economic calendar will be focused on manufacturing PMIs from Taiwan, South Korea and Singapore, Malaysia’s Jan trade data, and Eurozone’s PPI, OCBC Treasury Research reported.
China’s National People’s Congress starting tomorrow is likely to take center-stage, with market anticipating a shading down of its growth target to around 6-6.5 percent, the report added.
Meanwhile, the Nikkei 225 index closed over 1 percent higher at 21,828.00, while at 06:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -38.47 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
