People want to secure a higher coupon for tomorrow's sale and they are selling. It is hard to buy notes as people assess when the BOJ will push up rates.
More Quotes from Shinji Kunibe:
It's time to take off bets on the curve flattening, it's been a great run. Some investors had been betting on up to two rate increases this year but the central bank isn't likely to go past one.Shinji Kunibe
Investors were more sensitive to bond negative events this week. Bonds were sold ahead of the report on core prices yesterday and I bet people who held medium-term notes, such as five-year securities, lost a lot of money.
Shinji Kunibe
Bond yields, especially five-year ones, are reaching a fair level to reflect the outlook for a policy shift.
Shinji Kunibe
I was surprised to see speculation of a policy change grow stronger. Bonds tumbled as stocks rallied on the solid economy. Yields are to rise in the next several months.
Shinji Kunibe
It was just a matter of time before 10-year yields reached 2 percent. The gain in stocks is helping add to negative sentiment about holding longer bonds.
Shinji Kunibe
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Where studious of ease, I slumbered seven years, and then lost by degrees.
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