November 14, 2022 02:42 GMT
Cheapening Extends
JGBS
The cheapening in the longer end of the curve extended through the morning, with little to counter that bias, outside of a move lower in domestic equity indices, leaving the major JGB benchmarks flat to ~4bp cheaper. JGB futures were -12 at the lunch bell, consolidating after the early reversal of the overnight bid.
- BoJ Governor Kuroda provided familiar tones re: monetary policy and wage dynamics, while suggesting that fiscal policy needs to be a little more flexible in the shorter run. He stressed that fiscal soundness remains key over a longer horizon.
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