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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

BOJ
BOJ: Just a little more colour on the Nikkei interview with Kuroda.
- This will explain the pop in 10-Year JGB futures.
- "Ten-year rates have settled well below the level of "around zero" targeted by
the BOJ in its yield curve control policy, even considering that the central
bank has indicated it will tolerate rates 20 basis points above or below that
level. The yield on benchmark newly issued 10-year Japanese government bonds
sank to minus 0.295% on Wednesday, the lowest level in more than three years.
Kuroda suggested that the BOJ will accept this state of affairs for the time
being. But he hinted that this tolerance would not be unlimited, while avoiding
drawing a specific line in the sand.
"If there's no limit at all, the interest rate target of 'around zero' will
become meaningless," he said.
The central bank chief spoke more clearly about yields on ultralong-term debt
with maturities of 20 or 30 years, saying they have "fallen a bit too far."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com