Taiwan government bonds are rangebound in thin volume as investors pause to reassess their positions after the market's recent run-up to new highs, says a local trader. He believes the market will resume its uptrend; "if the central bank continues to buy the U.S. dollar to stem the local currency's strength, we could see more TWD funds flowing into the money market and that would lift bond prices," he adds. The central bank was suspected of buying USD earlier, providing the USD/TWD firm support above 29.000, traders say. The most-traded 10-year yield is at 1.1166%, vs 1.1165% late Tuesday in Taipei; traders tip the yield to trade in a 1.1100%-1.1200% band for the session. The five-year yield is at 0.8640% vs 0.8620%.
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