JGBs Mixed; Trade, Geopolitical Tensions May Support
0014 GMT — JGBs are mixed in price terms in the early Tokyo session, but may be supported by trade and geopolitical tensions that typically enhance the safe-haven appeal of sovereign debt. U.S. President Trump said on Friday that he would increase tariffs on imports of steel and aluminum to 50% from current 25%, effective June 4. Meanwhile, Ukraine launched drone attacks on four military airports inside Russia, destroying more than 40 warplanes. Five-year JGB yield is unchanged at 1.015%; 30-year yield is down 1.5 bps at 2.950%. (ronnie.harui@wsj.com)
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