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The screen shows the figure of the average Nikkei 225 stock on the Tokyo Stock Exchange (TSE), run by the Japanese Exchange Group Inc. (JPX), in Tokyo, Japan, Monday, October 30, 2023. Enlargement of Earth Operations Israel in Gaza has added more pressure on the world markets when investors are preparing for the busy week engaged in the main central banks for sale and noble sales us. Photographer: Akio Kon/Bloomberg via Getty Images
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Japanese government bond yields grew on Thursday, and the 10-year JGB revenue reached the highest since June 2009, and experts indicate pressure from global bond sales.
The 10-year JGB yield increased by almost 8 basic points, crossing 1.5% for the first time, while those who are on 30-year bonds have also risen to 13 basic points to cross the 2.5% mark for the first time since 2008.
JGB’s sale was combined with high -yield pressure, Musacho LO said, a senior fixed income strategist at Global Advisors State Street. The 10-year US Treasury Yields rose to 5 basic points to 4.317%.
Nomura’s FX strategy head for Japan, Jugir Gota, told CNBC that at the request of the delivery demand, the JGB market is not at the request, and indicates a sharp growth of government government bonds.
“Investors now expect the EU and the German government to increase the financial costs that add pressure on the upward yield on world bonds,” he said.
The comments of the deputy governor of the Japanese Bank Shinichi Uchida also contributed to the sale. It is reported to have stated that the Central Bank was probably “raising interest rates in accordance with dominant views among financial markets and economists.”
Investors, such as Japanese banks, were on the sidelines with a limited risk of appetite by the end of the financial year in March, except for prolonged Boj hiking expectations, Lou said.
Last week’s It was also reported that it was reported that the Central Bank will continue to narrow its state -owned bonds, despite the recent yield growth.
Since the Central Bank resorted to the normalization of its ultra-forest monetary policy last year, it stated that it would be Reduce JGBS purchases Approximately 400 billion yen each calendar quarter.
Japan 30 -Year Treasury
Mitul Kotecha, head of ASIA FX and speed strategy at Barclays, CNBC saidA boxed box as Asia“On Thursday, the sale was partially fueled by the growth of Japan’s inflation:” A lot of people (which) say that real inflation is even higher than what the actual measures show. Therefore, I believe that part of this is the transition of inflation that pushes the yield. “
Japanese header inflation In 34 months, he stayed above 2% of the BOJ target, with the last figure reached a two -year high of 4%.
The so -called “basic” inflation rate, which deprives prices of both fresh food and energy and is carefully monitored by BOJ, rose to 2.5%in January, reaching the highest rate since March 2024.
A higher inflation rate increases the expectations of the BOJ rate, pushing the bond yield.
