Japan’s Longer Bonds Gain After Auction Brings Short-Term Relief


“At the root of the global bear-steepening trend is the idea that the longer the Iran situation remains unresolved and prolonged, the more likely oil prices are to rise,” SMBC Nikko’s Okumura said. “So rather than signaling a trend reversal, this is probably just a short-term rebound following the sharp rise in yields.”



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