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2021

2020

  • Outlook for 20Y JGB auction

    Outlook for 20Y JGB auction

    20 May 2021 1233 KB PDF
    • Unenthusiastic bidding expected below 0.45%.
  • Daiwa's View

    Daiwa's View

    19 May 2021 1176 KB PDF
    • Introductory guide to fiscal finance and JGB issuance.
    • Structures of JGB issuance plan, front-loading issuance of refunding bonds, annual schedule of budget compilation, and supplementary budgets.
  • Daiwa's View

    Daiwa's View

    18 May 2021 791 KB PDF
    • Target achieved, or is there concern about overshoot?
    • (1) Inflation indicators to continue to attract attention for now.
    • (2) Difference in performance of Japanese, overseas bank shares.
  • Daiwa's View

    Daiwa's View

    14 May 2021 996 KB PDF
    • Yields are recently viewed as surging, but…
    • Quite calm.
  • Daiwa's View

    Daiwa's View

    12 May 2021 816 KB PDF
    • If inflation concerns are becoming a topic in the market.
    • JGB sensitivity to overseas yields could remain low for the time being.
  • Daiwa's View

    Daiwa's View

    11 May 2021 1189 KB PDF
    • Will inflation-led rise in yields come again?
    • Excess portion of increased yields has already been resolved; now is the time for careful observation, and keeping an eye out for trends.
  • Outlook for 10Y JGB auction

    Outlook for 10Y JGB auction

    10 May 2021 933 KB PDF
    • Bidding with 0.06-0.10% range in mind.
  • Daiwa's View

    Daiwa's View

    6 May 2021 1098 KB PDF
    • Theme that changed during Golden Week holidays.
    • Warning against excessive risk-taking.