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2024

2023

  • Daiwa's View

    Daiwa's View

    6 April 2021 1021 KB PDF
    • JGB yields have not fluctuated even after surprising cut in purchase amount in BOJ ops.
    • Forward yields imply confidence, stability.
  • Daiwa's View

    Daiwa's View

    2 April 2021 1228 KB PDF
    • US Treasuries are flattening, but the right answer for JGBs would be a dip-buying stance.
    • Signs of a fourth COVID wave bring early supplementary budget a step closer.
  • Daiwa's View

    Daiwa's View

    1 April 2021 936 KB PDF
    • Change in BOJ’s monthly operation schedule ≠promotion of rise in yields.
  • JGB Insight

    JGB Insight

    1 April 2021 638 KB PDF
    • BOJ aggressively reducing outright purchases of JGBs in April.
  • Outlook for 40Y JGB auction

    Outlook for 40Y JGB auction

    24 March 2021 966 KB PDF
    • With yields having dropped significantly in March, there is considerable uncertainty over the strength of investor demand at the current 40Y JGB yield level.
  • Daiwa's View

    Daiwa's View

    17 March 2021 694 KB PDF
    • BOJ’s assessment of monetary easing: Hoping the Bank finds good measures to improve market functionality II.
  • Daiwa's View

    Daiwa's View

    17 March 2021 924 KB PDF
    • Final decision at BOJ’s Mar meeting to be made on 19th.
    • Technical means expected, given background of assessment and awareness of issue.
  • Daiwa's View

    Daiwa's View

    12 March 2021 665 KB PDF
    • Dovish ECB signal; continuing related media reports on US/Japanese monetary policy.