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Japan, India, Malaysia, South Korea, Thailand: Asia Bond, 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 Yoshito Sengoku and Finance Minister Yoshihiko Noda will hold media briefings after a cabinet meeting in the morning. Sengoku will have another press briefing at 4 p.m. in Tokyo.
The statistics bureau will release at 8:30 a.m. in Tokyo its report on the jobless rate for June. The rate remained unchanged from the previous month at 5.2 percent, according to a Bloomberg News survey of economists.
The statistics bureau will release at 8:30 a.m. in Tokyo its report on household spending in June. Spending declined 0.9 percent from a year earlier, after a 0.7 percent decrease in May, another Bloomberg survey showed.
The statistics bureau will publish at 8:30 a.m. in Tokyo its report on consumer prices for June. Prices excluding fresh food slipped 1.1 percent from a year earlier, after a 1.2 percent drop in May, a separate survey showed.
The Trade Ministry will release at 8:50 a.m. in Tokyo its report on industrial production in June. Output rose 0.2 percent from May, when it increased 0.1 percent, according to another Bloomberg survey of economists.
The yield on the 1.1 percent government bond due in June 2020 was 1.085 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.
The yen traded at 86.91 per dollar at 7:14 a.m. in Tokyo.
China: The government will release the Purchasing Managers’ Index for July on Aug. 1. The yield on the 2.53 percent note due in June 2015 was 2.63 percent. The yuan was at 6.7761.
India: The government will today sell a combined 150 billion rupees ($3.2 billion) of bonds due in 2015, 2020, 2027 and 2040. The yield on the 7.80 percent bond due in May 2020 was 7.78 percent. The rupee was at 45.5365.
Malaysia: The nation’s exports probably rose 17 percent in June from a year earlier, according to the median forecast in a Bloomberg News survey before a trade ministry report on Aug. 3. Shipments climbed 22 percent in May.
The central bank will sell 3.5 billion ringgit ($1.09 billion) of notes due in 91 and 210 days on Aug. 2.
The yield on the 3.835 percent bond due in August 2015 was 3.41 percent. The ringgit was at 3.1865.
Philippines: Finance Secretary Cesar Purisima said yesterday the government prefers inflation at “current levels” as he reiterated plans to seek annual economic growth of 7 percent to 8 percent.
The yield on the 7.75 percent debt due in February 2020 was 7.63 percent, according to Philippine Dealing & Exchange Corp. The peso was at 45.713.
South Korea: The government is forecast to say June industrial production rose 0.9 percent from May, when it climbed 2.6 percent, according to a Bloomberg News survey before today’s data.
The yield on the 4.50 percent bond due in March 2015 was 4.38 percent. The won was at 1,186.90.
Thailand: The government will report trade and manufacturing data for June today, while the central bank will auction 70 billion baht ($2.2 billion) of 14-day bills.
The yield on the 5.375 percent note maturing in December 2019 was 3.41 percent. The baht was at 32.25.
--Belinda Cao. With assistance from Ron Harui, David Yong in Singapore. Editors: Ven Ram, Garfield Reynolds.
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