
Japan bonds tread water as wary investors await weekend election
held steady on Thursday as the market turned calm in the final run-up to potentially pivotal
upper house elections
, following a selloff earlier in the week that sent long-term yields to record peaks.
Recent polls suggest the ruling coalition is seen as increasingly unlikely to retain its majority, ceding more power to opposition parties backing
consumption tax cuts
as a way to ease the burden from rising
consumer prices
.
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Japan bonds tread water as wary investors await weekend election
Japanese government bonds stabilized as the market awaited upper house elections, following a selloff driven by concerns that the ruling coalition might lose its majority. This potential shift in power, favoring parties advocating consumption tax cuts, had previously pushed long-term yields to record highs.
RBI plans bond switch to ease redemption load
Central banks ramp up buying at euro zone bond sales
SBI board approves fundraising of up to Rs 20,000 crore via bonds; stock jumps 2%
Fixed income market outlook: why short-term bonds may outperform in 2H 2025
Browse all Bonds News with
The
fiscal implications
of a defeat for Ishiba in this Sunday's vote saw 20- and 30-year yields surge to record highs on Tuesday of 2.65% and 3.20%, respectively.
Those yields retreated sharply on Wednesday, though, and in the latest session, the 20-year yield remained flat at 2.57%, while the 30-year yield increased by 0.5 basis point (bp) to 3.07%.
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The 10-year yield eased 0.5 bp to 1.565%. It vaulted to its highest level since October 2008 at 1.595% earlier this week.
"The possibility of the ruling coalition losing its majority in this weekend's upper house election has already been mostly priced in, but it is unclear what the coalition framework will be after that," said Miki Den, a senior rates strategist at
SMBC Nikko Securities
.
"
Investors
are reluctant to take on new positions."
Benchmark 10-year JGB futures were flat at 137.96, after pushing to the lowest since March 28 at 137.70 on Wednesday.
Bond yields
move inversely to prices.
The five-year JGB yield and two-year yield each declined by 0.5 bp to 1.075% and 0.78%, respectively.
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New Indian Express
12 minutes ago
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Time of India
12 minutes ago
- Time of India
Timely, productive visit helped review & build India-Maldives cooperation: FS Misri on PM Modi's Malé visit
Prime Minister Modi's state visit to the Maldives strengthened bilateral ties through key agreements and discussions. A major highlight was the extension of a Rs 4,850 crore line of credit and restructuring of existing debt, significantly reducing the Maldives' repayment obligations. The visit also included MOUs across various sectors and the launch of joint initiatives. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Prime Minister Narendra Modi's ongoing state visit to the Maldives saw high-level engagements and significant bilateral agreements, reaffirming India-Maldives ties and outlining a roadmap for future a special press briefing on Friday, Foreign Secretary Vikram Misri highlighted the importance of the visit, describing it as productive and timely. Accompanied by High Commissioner to Maldives G. 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"This gave both leaders the opportunity to review the entire gamut of issues in the bilateral relationship. They renewed various aspects of India-Maldives relations and in particular reflected on the progress made since October 2024, when President Muizzu had visited India on a state visit and when both countries had adopted the Joint Vision for India-Maldives Comprehensive Economic and Maritime Security Partnership," he talks were followed by the signing of key agreements. "You would already be familiar with; you would have seen the ceremony for exchange of memoranda of understanding and agreements between the two sides. Let me just review the key agreements and MOUs that have been signed. We have signed an MOU related to the extension of a fresh line of credit of Rs 4,850 crore to the Maldives. This is the first LOC extended to the Maldives that is denominated in Indian rupees. The LOC represents a continuation of the tradition of assistance to the development needs of the Maldives and we expect that several infrastructure projects will be carried out as a result of this LOC agreement benefiting the lives of citizens here in the Maldives."He elaborated on financial restructuring aimed at easing the Maldives' economic burden. "Together with this, the two sides also signed an amendatory agreement that amended the existing dollar line of credit between India and the Maldives. I would like to in particular point to the fact that with the signature of this amendatory agreement, the annual debt repayment obligations of the Maldives will reduce by a sharp 40% from nearly US$51 million annually to about US$29 million."Misri further outlined the range of MOUs signed, covering diverse sectors. 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This is intended to take forward the work on implementing the Unified Payments Interface that will greatly benefit tourism between the two countries."Marking key milestones, Misri spoke about symbolic and development-oriented initiatives. "In addition to that, there were a number of announcements and events that took place during the course of the day. The two countries have agreed to launch negotiations on an India-Maldives Free Trade Agreement. On the occasion of the 60th anniversary of the establishment of diplomatic relations, the two sides issued commemorative stamps."The Foreign Secretary continued, "The Prime Minister also handed over 3,300 social housing units in Hulhumale that were built under the Indian Buyer's Credit Scheme. The two leaders also together inaugurated the Roads and Drainage System Project in Addu City, six high-impact community development projects. And just now, a short while ago, the Ministry of Defence building in Male. The Prime Minister also handed over 72 vehicles and other equipment that will be used by the MNDF for various purposes."Environmental and health initiatives also featured in the day's agenda. "The two leaders were together for a tree plantation event, which is being carried out under the initiative taken by Prime Minister Modi in India, Ek Ped Maa Ke Naam, Plant for Mother. In the same place, the Prime Minister also handed over two BHISHM Health Cubes that will be of great relevance in medical emergencies, especially in remote parts of the country."Modi's visit will continue with important engagements on Satruday where the Prime Minister will be the Guest of Honour at the Independence Day celebrations at Republic Square."He will also be meeting with a few political leaders of the country, interact with the Indian diaspora residing in the Maldives, including also ITEC alumni from the Maldives," Misri up the significance of the visit, Misri emphasized its strategic outcomes. 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Time of India
12 minutes ago
- Time of India
Chandigarh MC buildings set to get rooftop solar panels under rent-a-roof model
Chandigarh: In a significant move, approximately 100 buildings of the municipal corporation (MC) are all set to have solar energy on their rooftops, as the Chandigarh Renewable Energy and Science and Technology (CREST) has sent a detailed MoU to be signed with the corporation for this project. As per the proposal, the MC will not have to spend even a single penny on this project, and they will earn around Rs 40 lakh annually as rent from the private company. Now, this detailed MoU is coming in the monthly general house meeting of the MC, scheduled for Tuesday, for deliberation and subsequent approval of the members. As per the proposal, the solar panels will be installed under a 'Rent-a-Roof', Resco Model (Renewable Energy Service Company) framework, where the selected company through bids will install the solar on all the selected buildings' rooftops, maintain them, and pay rent to the MC. The move came following a high-level meeting under the chairmanship of chief secretary Rajiv Verma, recently. The proposal of the CREST, a copy of which is with TOI, reads, "Chandigarh administration has been consistently working towards the saturation of rooftop solar installations across all govt and private buildings in the city. To utilise this potential effectively, CREST proposes the implementation of grid-connected rooftop solar plants on MC buildings through the 'rent-a-roof' framework. Under this model, the developer offering the highest rooftop rent per unit of energy generated shall be selected through competitive bidding. This will ensure regular revenue for MC, with zero capital expenditure or maintenance responsibility." The letter further reads, "The rent-a-roof approach allows MC to monetise its rooftop assets, receive guaranteed bi-monthly income, and avoid long-term tariff commitments. The total feasible rooftop solar capacity assessed on MC buildings is approximately 3MW. Based on generation potential and other parameters, MC stands to earn an estimated Rs 39-40 lakh per year, depending on the rent rate received through bidding." Following this, CREST has requested approval of the proposed model and MoU and timely consent to initiate the process. Once approved by the MC's general house, the CREST shall thereafter proceed with the tendering and execution of the project in coordination with the MC. Key Terms of MoU Rooftop rent to be paid by the Resco developer bi-monthly based on the energy generation under the gross metering arrangement No damage to MC roofs - any structural damage to be repaired by the Resco Water supply for periodic solar panel cleaning to be provided by MC Plant security to be provided by MC Insurance and operational responsibilities lie with Resco Escrow mechanism for transparent and timely rent transfers