Japan, India, Malaysia, Philippines, Taiwan: Asian Bonds, Currency Preview

The following events and economic reports may influence trading in Asia’s local bonds and currencies today. Bond yields and exchange rates are from the previous trading session unless stated otherwise.

Japan: Chief Cabinet Secretary Hirofumi Hirano will hold media briefings at 11 a.m. and 4 p.m. in Tokyo.

The Bank of Japan will begin a two-day policy board meeting in Tokyo.

Japan Business Federation Chairman Fujio Mitarai will hold a media briefing at 3:30 p.m. in Tokyo. The federation, known as Keidanren in Japanese, is the nation’s largest business lobby.

The Ministry of Finance will release at 8:50 a.m. in Tokyo its report on Japanese and foreign investment flows for domestic and overseas securities during the week ended May 14.

The Cabinet Office will release at 8:50 a.m. in Tokyo its preliminary report on gross domestic product for the first quarter. Japan’s GDP expanded at an annual 5.5 percent pace in the three months ended March 31, according to a Bloomberg News survey of economists.

The Finance Ministry will announce at 10:30 a.m. in Tokyo the amount of two-year Japanese government bonds it plans to sell on May 27.

The yield on the 1.3 percent government bond due March 2020 was 1.285 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.

The yen traded at 91.64 per dollar at 7:41 a.m. in Tokyo.

India: The primary articles index for the week to May 8 will be published today. It has a 22.02 percent weight in the wholesale-price inflation basket and comprises mainly food items. It rose 16.76 percent in the week to May 1 from a year earlier.

The yield on the 7.80 percent bond due January 2020 was 7.44 percent, according to the central bank’s trading system. The rupee was at 46.355 per dollar.

Malaysia: Malaysia plans to sell 100 million ringgit ($30.7 million) of 364-day Islamic bills today.

The yield on the 4.378 percent bond due November 2019 was 4.01 percent. The ringgit was at 3.257 per dollar.

Philippines: The finance department will report the government’s April budget balance at 2 p.m. today in Manila. The budget deficit widened to the most in at least 16 years in March at 63.9 billion pesos ($1.4 billion).

The yield on the 7.75 percent debt due February 2020 was 8.05 percent, according to Philippine Dealing & Exchange Corp. The peso was at 45.623 per dollar.

Singapore: The economy probably grew 13.7 percent in the first quarter compared with 13.1 percent in the previous three months, according to a Bloomberg News survey of nine economists before a government report today.

The yield on the 2.5 percent debt due June 2019 was 2.48 percent, according to Bloomberg data. The Singapore dollar was at S$1.3962 versus the greenback.

Taiwan: The economy probably grew 11 percent in the first quarter compared with a 9.22 percent expansion in the previous quarter, according to a Bloomberg News survey of 20 economists. The data is due today.

Exports probably rose 36.1 percent in April after climbing 43.66 percent in March, according to a Bloomberg survey of 17 economists before a government report today.

The yield on the 1.375 percent bond maturing in March 2020 was 1.41 percent, according to Gretai Securities Market, Taiwan’s biggest exchange for bonds. The Taiwan dollar was at NT$32.098 per dollar.

Thailand: The central bank plans to sell 70 billion baht ($2.2 billion) of 14-day treasury bills today.

The yield on the 3.875 percent bond maturing in June 2019 was 3.56 percent. The baht was at 32.37.

To contact the reporter on this story: V. Ramakrishnan in Mumbai at rvenkatarama@bloomberg.net

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