Japanese government bond prices fall as the market focuses on Kazuo Ueda's speech
- The price of Japanese government bonds fell in the Tokyo market, and analysis suggests this may be a technical correction after most Japanese sovereign bonds recorded gains on Tuesday.
- Market attention is widely expected to focus on Bank of Japan Governor Kazuo Ueda’s speech at a meeting in Tokyo later today, as investors look for clues about the Bank’s interest rate hike trajectory.
- At an international conference in late May, Kazuo Ueda did not give any hint regarding the timing of the Bank of Japan’s next move. The Bank of Japan’s next meeting is scheduled for June 15-16.
- The yield on Japan’s five-year government bonds rose by 5 basis points to 1.905%; the yield on 30-year government bonds increased by 1.0 basis point to 3.855%; and the yield on 10-year government bonds climbed 5 basis points to 2.615%.
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