JGBs Edge Lower Amid Concerns over Elevated Oil Prices
Dow Jones
13 hours ago
0045 GMT - JGBs edge lower in price terms in the early Tokyo session amid concerns over elevated oil prices that could be sustained by tensions in Europe and the Middle East. The Russia-Ukraine energy ceasefire is proving to be "illusive", NAB's Rodrigo Catril says in commentary. "In the Middle East, the Iranian-backed Houthis continued attacks on Saudi Arabia after striking airports over the weekend, with energy infrastructure also targeted," the senior FX strategist adds. Rising oil prices tend to cause higher inflation in Japan, which could lead to quicker pace of BOJ rate increases. The five-year JGB yield is up 1.5 bps at 2.350%.
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