Japan, India, Philippines, Korea, Thailand: Asian Bonds, Currency Preview
Aug. 26 (Bloomberg) -- Geoffrey Yu, currency strategist for UBS Ltd., talks about hints from Japanese policymakers they may curb the advance of the yen. Yu also discusses the prospect of the Swiss National Bank stepping in to counter gains in the franc. He speaks with Mark Barton on Bloomberg Television's "Countdown." (Source: Bloomberg)
Aug. 24 (Bloomberg) -- Michael Woolfolk, senior currency strategist at Bank of New York Mellon Corp., talks about the outlook for the yen and U.S. economy. Woolfolk speaks with Margaret Brennan on Bloomberg Television's "InBusiness." (Source: Bloomberg)
Aug. 24 (Bloomberg) -- Shaun Osborne, chief currency strategist at TD Securities Inc., talks with Bloomberg's Julie Hyman about the outlook for Japan's yen. The yen advanced to the strongest in 15 years versus the dollar and to its highest level against the euro since 2001 even after Prime Minister Naoto Kan told reporters “steep currency gains are undesirable.” (Source: Bloomberg)
Aug. 24 (Bloomberg) -- Jesper Koll, head of equity research at JPMorgan Chase & Co., talks about the outlook for Japanese stocks. Koll also discusses the prospects for Bank of Japan intervention in the foreign-exchange market, and the nation's government. Koll speaks from Tokyo with Bloomberg's Rishaad Salamat. (Source: Bloomberg)
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 in July. Japan’s unemployment rate was unchanged from the previous month at 5.3 percent in July, according to a Bloomberg News survey of economists.
The statistics bureau will publish at 8:30 a.m. in Tokyo its report on overall household spending in July. Japanese household spending rose 1.5 percent in July from a year earlier, after a 0.5 percent increase in June, a separate Bloomberg survey showed.
The statistics bureau will also release at 8:30 a.m. its report on the consumer price index for July. Japan’s consumer prices fell 0.9 percent in July from a year earlier, after a 0.7 percent decline in June, another Bloomberg survey showed.
The yield on the 1.1 percent government bond due in June 2020 was 0.935 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker. The yen traded at 84.49 per dollar as of 6:49 a.m. in Tokyo.
India: The government will offer a total of 120 billion rupees ($2.6 billion) of government bonds maturing in 2015, 2020 and 2027 today.
The yield on the 7.8 percent bond due in May 2020 was 8.03 percent. The rupee was at 46.85.
Philippines: The central bank kept its overnight borrowing rate at 4 percent yesterday. All 15 economists in a Bloomberg survey predicted no change. The rate has been unchanged since July 2009.
The yield on the 7.25 percent debt due in August 2020 was 7.16 percent, according to the Philippine Dealing & Exchange Corp. The peso was at 45.15.
South Korea: The Ministry of Finance and Strategy will release the current-account balance for July today. The surplus widened to a one-year high of $5.04 billion in June, from a revised $3.82 billion in May.
The yield on the 3.75 percent note due June 2013 was 3.54 percent. The won was at 1,189.95.
Singapore: The government will sell today S$2 billion ($1.5 billion) of 20-year bonds.
The yield on the 3.25 percent note due September 2020 was 2.06 percent. The Singapore dollar was at S$1.3552.
Thailand: The central bank will release today foreign- exchange reserve data for the week ended Aug. 20. The reserves fell 0.1 percent to $152.7 billion the previous week.
The Bank of Thailand will today sell 15 billion baht ($478 million) of floating-rate notes due 2013. It will also offer 80 billion baht of 14-day bills.
The yield on the 3.625 percent debt maturing in May 2015 was 2.72 percent. The baht was at 31.36.
To contact the reporter on this story: Lilian Karunungan in Singapore at lkarunungan@bloomberg.net.
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