Nippon Life Sees Value in Super-Long JGBs, No Plans to Cut U.S. Treasury Holdings

Reuters··JPUS·Read original
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Daisuke Ishida, executive officer and head of the financial planning department at Nippon Life Insurance, said in a Reuters interview that the recent rise in interest rates reflects global fundamentals and is not primarily due to concerns about Japan's fiscal situation. He also noted that the rise in yields has made Japanese super-long-term government bonds more attractive, and he expects rates to remain in a sideways range through the next fiscal year. He said it would not be surprising if the Bank of Japan raised rates again this month, and he predicts the terminal rate will be in the upper half of the 1 percent range. He assumes the 10-year yield at the end of this fiscal year will be in the upper half of the 2 percent range, close to 3 percent, and expects the 30-year JGB yield to remain around its current level of 4.08 percent. Regarding foreign bonds, he said the balance of U.S. Treasuries has already been reduced to several trillion yen and there are no plans to cut it further.

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Nippon Life Insurance CompanyPrivate▲ Positive
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Nippon Life sees value in super-long JGBs and has no plans to cut U.S. Treasury holdings, indicating stable investment strategy.

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