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Fixed Income Commentary

Three uncertainties driving surge in bond yields since March; related events in June

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Three uncertainties driving surge in bond yields since March; related events in June      

Key points
  • JGB yield curve has shifted broadly higher since March, led by 10- to 20-year sector

  • Rise driven by heightened uncertainty over inflation, monetary policy, and fiscal policy that has prompted market participants to remain on sidelines

  • JGB market likely to be influenced by these uncertainties going forward, with numerous related events scheduled in June

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