Japan 10-Year Yield Rises on Trade Optimism
On Thursday, the yield on Japan's 10-year government bond rose above 1.3%, rebounding from a dip in the previous session. This rise was attributed to ongoing trade negotiations with the United States, which boosted investor sentiment and increased risk appetite. Japanese officials are currently in Washington, advocating for the complete removal of tariffs imposed by President Trump. These include a 10% base tariff and an additional 25% levy on Japanese car exports. Despite the trade discussions, Economy Minister Ryosei Akazawa stated that foreign exchange topics have not been part of the negotiations. Economically, Japan's export growth for March fell short of expectations, affected by weak demand from China and the European Union. Nevertheless, a return to positive import growth indicates resilience in domestic consumption, which contributes to stabilizing the broader economic outlook.
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