News

⑴ Japanese government bonds recovered most of yesterday's losses on Wednesday, with the 10-year yield falling by 4.5 basis points to 2.60%. The 20-year and 30-year yields respectively declined by 6.5 and 7 basis points, to 3.47% and 3.705%. ⑵ JGB futures jumped at the open following overnight gains, breaking above the 128.00 mark and trading at high levels between 128.10 and 128.20, reaching an intraday high of 128.24 in the afternoon. ⑶ Market participants were surprised by the scale of the rebound, as the weak yen is expected to keep import costs elevated, potentially causing the central bank to lag behind the curve. However, domestic investors began to buy in after the central bank meeting. ⑷ In the morning session, some institutions conducted buying operations on the 10-year cash bonds, while regional accounts and life insurance companies also showed buying intentions in the medium-term sector. ⑸ A trader noted that the central bank will conduct bond-buying operations tomorrow, and sellers are relatively cautious ahead of the operation, which has provided some support to the market.

Jinse Finance reported that on June 17, ship tracking data showed a third oil tanker fully loaded with crude oil has left Chabahar Port in Iran, crossing the blockade set by the US and heading for Asia. The Suezmax tanker Sonia I departed last night from the port located near the Iran-Pakistan border. The vessel has a carrying capacity of approximately 1 million barrels of crude oil. The draft of the ship indicates it is fully loaded, with its destination listed as Singapore, a common transshipment hub for ships headed to Asian markets. The departure of Sonia I closely follows that of the Very Large Crude Carriers Hero II and Diona, each loaded with about 2 million barrels of Iranian crude oil. These two vessels did not specify their exact destinations but are both heading toward the southern tip of India, a typical route to the Malacca Strait near Singapore. Iranian media reported on Tuesday that the US blockade of Iranian ports, which began in mid-April, is being lifted.

Jinse Finance reported that on June 17, Citibank raised Micron Technology's target price from $840 to $1,200.