2024-12-24 16:42
IndustryYen-Hedged US Yields Turn Positive Amid Fed Cuts
Yen-hedged 10-year US Treasury yields rose to 0.28%, positive for the first time since 2022, as Fed rate cuts reduced hedging costs by 170bps. While still below Japanese bond yields, the shift boosts US debt's appeal for Japanese investors, especially those targeting FX gains.
Japanese net purchases of US bonds hit ¥15.1 trillion YTD, driven by opportunities in high US yields and currency returns despite gradual BOJ rate hikes. The trend may strengthen as investors eye fiscal 2024.
#Forex #USDJPY #Treasuries #Yen #BOJ #FederalReserve
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Yen-Hedged US Yields Turn Positive Amid Fed Cuts
| 2024-12-24 16:42Yen-hedged 10-year US Treasury yields rose to 0.28%, positive for the first time since 2022, as Fed rate cuts reduced hedging costs by 170bps. While still below Japanese bond yields, the shift boosts US debt's appeal for Japanese investors, especially those targeting FX gains.
Japanese net purchases of US bonds hit ¥15.1 trillion YTD, driven by opportunities in high US yields and currency returns despite gradual BOJ rate hikes. The trend may strengthen as investors eye fiscal 2024.
#Forex #USDJPY #Treasuries #Yen #BOJ #FederalReserve
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