Japan 5-year yields climb to the highest since April 2011 ahead of BoJ rate decision
(The 10y recent high is .951and it’s at .927currently-cap 4)
Japan’s five-year bond yield rose to the highest level since April 2011 ahead of the Bank of Japan (BoJ) interest rate decision on Friday, per A Jiji. The yield advanced 2.5 basis points (bps) to 0.523% in the early Asian session on Friday.
The Bank of Japan (BoJ) is expected to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. (even if it raised a few more times this year it would be at .3-.4% so BFD)
https://www.fxstreet.com/news/japan-5-year-yields-climb-to-the-highest-since-april-2011-ahead-of-boj-rate-decision-202404260047
https://tradingeconomics.com/japan/5-year-note-yield
Japan Tokyo Core CPI fell YoY
The core consumer price index for the Ku-area of Tokyo in Japan fell sharply to 1.6% year-on-year in April 2024, hitting its lowest level since March 2022 and coming in way below forecasts of 2.2% due largely to distortions from the start of education subsidies. Tokyo’s inflation rate also went below the Bank of Japan’s 2% target for the second time this year, reducing pressure on the central bank to raise interest rates again. The BOJ is widely expected to keep short-term rates unchanged at its April policy meeting, although the yen’s weakness raised speculation that the central bank could hike rates again this year. Tokyo’s inflation reading is widely considered as a leading indicator of nationwide price trends, with national-level CPI data following in about three weeks. Meanwhile, the headline CPI slowed sharply to 1.8% in April, the lowest reading since January
https://tradingeconomics.com/japan/tokyo-core-cpi
Dollar Firms above 155.50 Yen in Tokyo
The dollar climbed above ¥155.50 in Tokyo on Thursday, marking the highest level since June 1990.
At 5 p.m., the greenback stood at ¥155.62-63 , up from ¥154.90-90 at the same time Wednesday.
Behind the yen’s fall versus the greenback was growing speculation over the wide gap between Japanese and U.S. interest rates amid receding hopes for an early interest rate cut by the U.S. Federal Reserve.
https://japannews.yomiuri.co.jp/business/market/20240425-182480/
https://tradingeconomics.com/japan/currency
https://www.marketwatch.com/investing/index/nik