0638 GMT - The Bank of Japan is behind the curve and needs to get to neutral, between 1% and 1.5%, over the coming year, RBC BlueBay Asset Management's Kaspar Hense says in a note. "That should drag the entire curve higher, but in particular the 10-year part of the curve, which is currently artificially dragged down by Rinban purchases," the senior portfolio manager says. However, those purchases of JGBs will be reduced from July onward, he says. "That being said, we do think the 30-year part of the curve is approaching fairer value at around 2.5%." The 10-year JGB yield rises 4 basis points to 1.304%, while the 30-year is up 1 basis point at 2.289%, according to Tradeweb. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
February 07, 2025 01:39 ET (06:39 GMT)
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