BoJ monetary and MoF fiscal operations put pressure on JGBs and JPY basis into fiscal year end: The MUFG Global Markets Podcast

An upward trend on JPY rates has taken hold, in tandem with rates in the U.S. and Europe. JPY basis has also been widening. The Nikkei Average and USDJPY have not moved as much as JPY rates or JPY basis. The JPY and USD bond markets are mutually dependent, and bond investors have been adjusting their positions more actively.

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido discusses the recent sell-off in the JGB market including the impact of monetary and fiscal operations. He also shares his outlook for Dollar/Yen, Yen rate, and Yen basis.

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