JGBs Fall as BOJ May Face Challenges in Matching Likely Fed Rate-Hike Pace
Dow Jones09:40
0140 GMT - JGBs fall in price terms in the early Tokyo session as the BOJ may face challenges in matching the pace of likely Fed rate hikes. "If the Fed steps up monetary tightening to curb inflation, the environment facing both the BOJ and the JGB market is likely to become more challenging," SMBC Nikko Securities' Ataru Okumura says in commentary. "What is currently being priced in is merely a faster pace of reducing the degree of monetary accommodation, rather than a shift toward outright monetary tightening" by the BOJ, the chief Japan rates strategist adds. The 10-year JGB yield is up 1.5 bps at 2.940% after earlier touching 2.950%, its highest intraday level since Sept. 1996.
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