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03/04/2013 09:32 AST
The extra yield Treasuries pay over Japanese bonds was near the most in 19 months on speculation Bank of Japan (8301) Governor Haruhiko Kuroda will deliver on proposals to buy more debt at a two-day meeting that started today.
Treasuries due in 10 years or more yielded 1.69 percentage points more than similar maturity Japanese government bonds, Bank of America Merrill Lynch indexes show. The spread was 1.72 percentage points last week, the most since August 2011. Federal Reserve regional bank presidents Charles Evans and Dennis Lockhart both said the U.S. central bank needs to keep up its own asset purchases to support the world’s biggest economy.
“Treasuries are cheap compared to JGBs,” said Kazuaki Oh’e, a bond salesman in Tokyo at CIBC World Markets Japan Inc., the unit of Canada’s fifth-largest lender. “Don’t turn too bearish on either market. The BOJ and the Fed are both easing.”
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Bloomberg
Index | Closing | Change |
---|---|---|
NIKKEI 225 | 21,292.29 | -96.29 (-0.45 |
DAX | 12,002.45 | -94.28 (-0.77 |
S&P 500 | 2,614.45 | 32.57 (1.26 |
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