Japan, China, India, Malaysia, South Korea: Asian Bonds, Currency Preview
The following events and economic reports may influence trading in Asia’s bonds and currencies today. Bond yields and exchange rates are from the previous trading session unless stated otherwise.
Japan: Chief Cabinet Secretary Yukio Edano and Finance Minister Yoshihiko Noda will hold media briefings after a Cabinet meeting in the morning. Edano will have another press briefing at 4 p.m. in Tokyo.
The yield on the 1.2 percent government bond due June 2021 was 1.105 percent, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker.
The yen traded at 80.48 per dollar at 7:37 a.m. in Tokyo.
China: Market News International will publish a business condition survey for June today. The index was at 61.22 in May.
China Development Bank will sell 15 billion yuan ($2.3 billion) of one-year floaters today.
The yield on the 3.83 percent bond due March 2021 was 3.96 percent. The yuan was at 6.4674 per dollar.
India: The finance ministry will sell a total 120 billion rupees ($2.7 billion) of debt due 2016, 2022 and 2032 today.
The yield on the 7.80 percent bond due April 2021 was 8.27 percent. The rupee was at 44.9588 per dollar.
South Korea: Consumer confidence declined in June from a three-month high in May and inflation expectations held near the Bank of Korea’s 4 percent target ceiling. The sentiment index fell to 102 from 104 in May, the Bank of Korea said in an e- mailed statement from Seoul today. A reading above 100 indicates optimists outnumber pessimists.
The yield on the 4.25 percent bond due June 2021 was 4.23 percent. The won was at 1,076.80 per dollar.
Thailand: The central bank will publish foreign-exchange reserves for the week ended June 17 today. Reserves were at $185.9 billion in the week ended June 10.
The central bank will sell 50 billion baht ($1.6 billion) of 14-day bills today.
The yield on the 5.40 percent debt due July 2016 was 2.95 percent. The baht was at 30.57 per dollar.
Malaysia: The consumer price index rose 3.3 percent in May from a year earlier, compared with 3.2 percent in April, according to the median of estimates of economists in a Bloomberg survey before the data due today.
The yield on the benchmark 4.16 percent note due July 2021 was at 3.93 percent. The ringgit was at 3.0445 per dollar.
Philippines: The Bureau of the Treasury will publish budget data for May today. The budget showed a surplus of 26.3 billion pesos ($605 million) in April.
The yield on the 6.5 percent bond due April 2021 was 6.43 percent, according to Tradition Financial Services. The peso was at 43.487 per dollar.
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