Intriguing RV graphs: Background to behind-the-curve concerns that nevertheless remain unresolved
JGB market last week: Amid expectations for US/Iran deal, moves to partially reverse market trend following escalation of tensions in Middle East
However, 2s10s JGB yield spread remains wide; even as surging crude oil prices ease, concerns about "falling behind the curve" remain
Potentially due to perceptions regarding the government's stance. More aggressive rate-hiking stance likely needed to shift to narrowing trend for the spread