JGBs Edge Lower on Possible Iran-Israel Cease-Fire Agreement
0017 GMT — JGBs edge lower in price terms in the morning Tokyo session on a possible Iran-Israel cease-fire agreement which would reduce the safe-haven appeal of sovereign debt. President Trump said Israel and Iran agreed to a cease-fire that could end the war between the countries. Today's focus may also be on the Japanese Finance Ministry's auction of about 1 trillion yen of 20-year JGBs. Market participants will likely favor buying amid expectations of an improvement in supply/demand, Citi Research's rates strategist Tomohisa Fujiki says in a note. The 20-year JGB yield is 0.5bp higher at 2.345%. (ronnie.harui@wsj.com)
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