MUFG on the developments in long JGBs (ICYMI, on Tuesday Japanese yields fell sharply on reports that Japan could tweak its bond issuance plans, while on Wednesday a very weak JGB 40 year auction took a toll again)
- we doubt the BOJ is close to any shift in stance
- international factors will continue to lend to yen appreciation over the nearer term
If you like JPY a nice dip has been presented:
