Economic news

JGBs drop on rate-cut hints from Fed

On Friday JGB rates skidded after remarks from Fed officials tempered anticipations for further U.S. borrowing cost slices and fortified market to see that there is no pre-set rack for more trims.

japanPhoto: Flickr

Philadelphia Fed head Patrick Harker and Kansas City Fed head Esther George stated on Thursday that they saw no motivation to trim rates of interest without new financial disintegration.

A hop by Japanese stocks additionally prodded Japanese government bond rates lower by controlling traders appetite for risk-off bonds.

The five-year Japanese government bond yield climbed a half bp to minus 0.335 percent. The 10-year yield was unchanged at minus 0.245 percent and the 30-year yield gained a half bp to 0.195 percent.

JGB market developments were capped, with traders searching for further pieces of information on financial approach course from U.S. Fed Chair Jerome Powell's discourse at a meeting of national bankers further during the day.

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