Taiwan Bond Yield Retreats From 18-Month High; Currency Steady

Taiwan’s bonds rose, pushing the 10-year yield down from near an 18-month high, as some investors judged recent declines in the securities excessive. The island’s currency was little changed.

Benchmark 10-year yields surged 18 basis points in a five-day slump that ended March 11, while the Dow Jones Industrial Average of U.S. shares climbed to a record. Taiwan’s statistics bureau raised its 2013 growth forecast for the local economy to 3.59 percent last month from 3.53 percent, and boosted its projection for exports to 6.23 percent from 6.07 percent.