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Japanese Govt. Bonds remain tad lower as investors shrug-off lower-than-expected April national core CPI

Japanese Govt. Bonds remain tad lower as investors shrug-off lower-than-expected April national core CPI

Japanese government bonds remained tad lower during late Asian session Friday as investors have largely shrugged-off the country’s lower-than-expected national core consumer price inflation (CPI) data, late yesterday.

The yield on the benchmark 10-year JGB note, which moves inversely to its price, remained tad higher at 0.06 percent, the yield on the long-term 30-year note rose 1/2 basis point to 0.76 percent and the yield on short-term 1-year remained nearly steady at -0.12 percent by 05:00 GMT.

Japan’s core consumer prices rose 0.7 percent in April from a year earlier, government data showed on Friday. The core consumer price index, which includes oil products but excludes fresh food prices, compared with economists’ median estimate for a 0.8 percent annual gain. Stripping away the effect of fresh food and energy, consumer prices rose 0.4 percent in April from a year ago.

Meanwhile, the Nikkei 225 index traded 0.37 percent higher at 22,923.50 by 05:10 GMT, while at 05:00GMT, the FxWirePro’s Hourly JPY Strength Index remained neutral at -55.29 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend).

Source: FXWire Commentary

 

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