A rally in equities weighed on sentiment, while there was some caution ahead of the 30-year debt auction today. |
Basically, fears about possible higher interest rates in the near future have not been erased. |
Following the overnight rises in long-term interest rates in the US, there was an early sell-off here. |
JGB prices dropped on firmer stock prices, a drop in US Treasury prices overnight and a pullback in the yen against the dollar. |
JGB prices got off a firmer start today aided by the bullish tone on the US Treasury market overnight, but then they fell back after the sharp gains in stock prices here. |
Many investors were sidelined awaiting the outcome of the 20-year JGB auction while firmer equity prices also kept market participants at bay. |
Players are also awaiting for the Bank of Japan's six-monthly (economic) outlook report on Friday. |
The January figures were seasonal and temporary. |
The market has moved little. We don't see much buying at this time of the year as the book-closing for the fiscal year-end nears. |
The market performance is very dull without clear direction and the equities market is faring well today. |
There was some buying back in the early morning, but the market remains top-heavy, as market players are waiting for the results of auction of 10-year bonds this afternoon. |