The newspaper report this morning that the Bank of Japan is considering steps to limit a rise in interest rates lent some support to the debt market, although some appeared to unload 10-year debt for hedging purposes before the auction tomorrow. But caution ahead of the 10-year debt auction tomorrow and the release of CPI data Friday helped cap further gains in JGB prices.
More Quotes from Yasunari Ueno:
The fact that he used the word 'immediately' in the testimony suggests Governor Fukui wishes to get the end of the policy done with as soon as possible, so I won't rule out the possibility of the policy change at the March meeting.Yasunari Ueno
Some investors bought back Japanese government bonds in a knee-jerk reaction to the comments from Fukui.
Yasunari Ueno
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