Japan, India Malaysia, Taiwan, Thailand: 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: Tokyo Electric Power Co. is set to hold press conferences at 11 a.m. and 4:30 p.m. about the nuclear crisis in Fukushima Prefecture. Finance Minister Yoshihiko Noda, Economy Minister Kaoru Yosano and Chief Cabinet Secretary Yukio Edano will hold media briefings after a Cabinet meeting.
The yield on the 1.2 percent government bond due June 2021 rose 1.5 basis points to 1.095 percent in Tokyo yesterday, according to Japan Bond Trading Co., the nation’s largest interdealer debt broker. A basis point is 0.01 percentage point.
The yen traded at 78.56 per dollar at 7:43 a.m. in Sydney.
India: The central bank will sell a combined 120 billion rupees ($2.7 billion) of bonds due 2017, 2022, and 2027.
The yield on the 7.80 percent bonds due April 2021 was 8.27 percent. The rupee was at 44.5050 per dollar.
Malaysia: Bank Negara will report foreign reserves as of July 15. Reserves were at $134.3 billion at the end of June.
The yield on the 4.16 percent bond due July 2021 was 3.88 percent. The ringgit was at 2.9983 per dollar.
Taiwan: The unemployment rate dropped to 4.40 percent in June from 4.41 percent the previous month, according to the media estimate of economists in a Bloomberg survey before data due today.
The yield on the 1.375 percent bond due March 2021 was 1.539 percent, according to Gretai Securities Market. The Taiwan dollar was at NT$28.890 per dollar.
Thailand: The government will report foreign reserves as of July 15. Reserves were at $184.2 billion on July 8.
Bank of Thailand will sell 15 billion baht ($503 million) of floating rate notes due 2013 and 55 billion baht of 14-day bills.
The yield on the 5.40 percent bond due July 2016 was 3.89 percent. The baht was at 29.94 per dollar.
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