Taiwan government bonds turn lower as local stocks rebound from sharp losses, says a local trader. The Taiex is flat after falling as much as 1.3% earlier. "Buying from government-backed funds is lifting the local stock market, and that is weighing on investor sentiment in bonds," he adds. But he notes selling pressure in bonds is not heavy, as most market participants believe ample liquidity in money market is still favoring bonds. The most-traded 10-year yield is at 1.1197%, vs 1.1180% late Wednesday in Taipei; traders tip the yield to trade in a 1.1145%-1.1250% band for the session. The five-year yield is at 0.8700% vs 0.8640%.
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