Back to my JGB-Japan debt crisis watch.
JGBs made significant headway today, where yields materially fell across the curve. This has been most likely due to today’s interventions by the BoJ.
Today's recovery should serve as a breathing space in favor of the Japan’s financial markets.
Yesterday’s drubbing of Japan’s stock market had been partially recovered. The Nikkei closed higher by 1.37%
Asian markets have been trading mixed today. Some are still open.
The Philippine Phisix which slumped by 3.81% yesterday also recovered by .99%.
The bulk of the gains had been due to the Financial sector.
Nonetheless rallying JGBs should provide ample room for the Nikkei to recover.
But this simply hasn’t been happening.
Nikkei futures, as of this writing, has expunged today’s gains and is much lower than the close from Thursday crash. This could be due to the ongoing weakness in the Eurozone.
More on the Nikkei and the Phisix on the weekend.
No comments:
Post a Comment