JGBs are likely to trade in range with an upward bias, says Tokai Tokyo Securities chief JGB strategist Kazuhiko Sano. The external environment favors safe-haven JGBs, as U.S. Treasurys rose overnight after political uncertainty in Italy revived fears over the euro-zone crisis. Still, superlong-sector JGBs are expected to be weaker than the other zones, Sano says. Lead March JGB futures are tipped in a 144.62-144.75 band vs 144.71 at Monday's close, while the benchmark 10-year cash JGB yield is expected to move in a 0.695%-0.700% range vs 0.695% .
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