Ahead of the US July CPI data and the 30-year Treasury auction, Weston Nakamura follows up from the previous episode of Market Depth with an update on bond market activity from Japanese investors, who have been driving the week's drop in global sovereign bond yields via the JGB and US Treasury markets.
Using futures markets, Weston shows the renewed bullish sentiment as exhibited by a surprisingly strong 30-year JGB auction, and a smooth scheduled Bank of Japan bond buying operation.
Japan is once again back to anchoring global bond yields - for now.
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