Ultralong-Dated JGBs Jump; Focus Likely on BOJ's IMES Conference
0005 GMT — Ultralong-dated JGBs jump in price terms in the morning Tokyo session on possible position adjustments. Market focus is likely on the Bank of Japan's Institute for Monetary and Economic Studies conference being held today and Wednesday. With speculation swirling about the timing of the BOJ's 8301 4.02%increase; green up pointing triangle next rate increase, market participants may watch closely for signals in Gov. Ueda's opening remarks. However, SMBC Nikko Securities doesn't expect any strong messages about the outlook given major uncertainty from various sources, senior Japan rates strategist Ataru Okumura says in a recent research report. The 30-year JGB yield falls 9 bps to 2.945%; the 40-year yield slips 10 bps to 3.435%. (ronnie.harui@wsj.com)
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