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Kuroda Non-Committal Re: Futures Of 10-Year Yield Band

JGBS

JGB futures traded a little lower at the re-open, but have recovered to overnight closing levels, last -16 vs. Tokyo settlement, while the cash curve runs steeper on the day. The market has been willing to look through the bulk of comments from BoJ Governor Kuroda, who is speaking in front of parliament. The only real round of comments of note saw Kuroda stress that the BoJ needs more time to discuss the "difficult" topic of its permitted 10-Year JGB yield trading band, while he noted that he cannot confirm any speculation re: the future of the trading band at present.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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