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Flash: BoJ fails to create waves – Deutsche Bank

FXstreet.com (Barcelona) - In Japan, 10yr JGB yields are up 4bp as they edge closer to the 1% mark – Kuroda's speech at a BoJ conference had little effect on markets with the Governor's key message being that no financial system is perfect in the face of global uncertainty.

In other BoJ-related headlines, there were some interesting comments PM Abe's economic adviser, Koichi Hamada, who was quoted as saying that Korea "shouldn't blame" the Japanese central bank if Korean growth slows due a weaker yen, but instead "they should demand the Korean central bank have a proper monetary policy". Hamada also urged Kuroda to ease monetary policy further should it be needed.

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “The news comes as PM Abe unveiled a 5yr plan that details a number of structural reforms to achieve growth, but the issue of corporate tax rate cuts is reportedly undecided at this stage.” Attention then shifted to the BoJ's meeting with JGB-market participants later today, which may provided more detail on the central bank's upcoming market operations.

Flash: 10-year US treasuries find support – RBS

A major selloff of 10-year US Treasuries on increasing volume confirms a long-term bearish view.
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Flash: Bunds encounter bullish gap after H&S target reached – RBS

According to Technical Strategist Dmytro Bondar at RBS, “The 143.54 head and shoulders target has been reached – as such, the market opened today with a bullish gap.”
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