Japanese government bond yields fell on Friday, supported by futures gain to its one week high, while the yield on the 30-year notes rose ahead of an auction. The 10-year JGB yield fell 1.5 basis points to 0.480%, after rising to 0.495%, a step below the Bank of Japan's policy ceiling of 0.5%, in the previous session.
Japan's services sector activity grew at its fastest pace in three months in January, but worsening inflation and employment trends point to challenges ahead, a business survey showed, as policymakers bet on the country's economic reopening to lift demand.
Japan's services sector activity grew at its fastest pace in three months in January, but worsening inflation and employment trends point to challenges ahead, a business survey showed, as policymakers bet on the country's economic reopening to lift demand.
Major central banks are steadily moving closer to a pause in their aggressive interest rate hiking campaigns. The U.S. Federal Reserve has just implemented its smallest rise of its tightening cycle so far. Overall, 10 big developed economies have raised rates by a combined 2,965 basis points in this cycle to date, with Japan the holdout dove.
Major central banks are steadily moving closer to a pause in their aggressive interest rate hiking campaigns. The U.S. Federal Reserve has just implemented its smallest rise of its tightening cycle so far. Overall, 10 big developed economies have raised rates by a combined 2,965 basis points in this cycle to date, with Japan the holdout dove.
- A chip industry group is warning that if U.S. allies do not adopt curbs on semiconductor manufacturing equipment to China that are comparable to U.S. controls, they will not be effective. The warning came after news of an agreement by the Netherlands and Japan to curb chipmaking exports to China to align with rules the Biden Administration imposed in October.
Japanese government bond yields fell on Wednesday, under pressure from relentless purchasing operations by the central bank, while a looming 10-year note auction added to the cautious mood. The 10-year JGB yield fell 0.5 basis point to 0.485%, retreating from the Bank of Japan's policy ceiling of 0.5% under its yield curve controls.
Japanese factories cut output slightly in December, capping the worst quarter for manufacturers since the onset of the COVID-19 pandemic, hit by stalling global demand and rising costs.
* Dec output -0.1% m/m vs forecast -1.2% * Oct-Dec output -3.1% q/q, biggest fall since 2020Q2. * Manufacturers see Jan output flat, Feb +4.1% * Dec retail sales +3.8% y/y vs f'cast +3.0% * Jobless rate, jobs/applicants ratio flat in Dec. By Kantaro Komiya.
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