DowJones News
15 Sep, 2021 06:28

DJ Global Forex and Fixed Income Roundup: Market Talk

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The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

0621 GMT - Commerzbank is upbeat about the strong performance of eurozone peripheral government bonds, saying it sees promising dynamics as yield spreads continue tightening regardless of market direction. This has taken the 10-year Italian BTP-German Bund yield spread below the key 100-basis-point level, rates strategists at the German bank say. The 10-year BTP-Bund spread is trading at 99.4 basis points in early trade, with 10-year Spanish-German spreads at around 64 basis points and 10-year Portuguese-German spreads slightly below 55 basis points, according to Tradeweb. (emese.bartha@wsj.com)

0622 GMT - Japanese stocks end broadly lower as profit-taking kicks in following the benchmark Nikkei Stock Average's ascent to a 31-year high on Tuesday. The index closed down 0.5% at 30511.71. Among the biggest losers was SoftBank Group, which fell 5.8% amid continuing concerns about the valuation of its Chinese portfolio companies. Investors are focusing on comments from candidates vying for the role of leader of the ruling party. The USD/JPY is at 109.54 compared with 109.69 as of Tuesday at 5 p.m. Eastern Time. The 10-year Japanese government bond yield falls half-a-basis point to 0.035%. (kosaku.narioka@wsj.com; @kosakunarioka)

0614 GMT - Amundi remains constructive on Italian debt amid an ensuing recovery but it keeps a cautious duration stance on U.S. Treasuries and core as well as semicore European government bonds, it says. Despite the caution, it remains active and recommends investors grab tactical opportunities when they arise. "With some uncertainty on how the U.S. yield curve will evolve, we think investors should actively explore opportunities across the curve to benefit from any tactical move," Amundi says. The asset manager expects steepening opportunities along the bond curve in Europe. Early Wednesday, Italy's 10-year BTP yield is trading unchanged at 0.655%, according to Tradeweb. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

September 15, 2021 02:28 ET (06:28 GMT)


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