Barclays: Ultra-long-term Japanese government bond yields may face moderate upward pressure.

Jin10 data reported on July 22 that Barclays strategists pointed out in their report that the ultra-long-term Japanese government bond yields may face moderate upward pressure following the Senate elections in Japan last Sunday. “Considering the balance of power between the ruling party and opposition parties after the elections, the reasonable valuation of the 30-year Japanese bond term premium should be around 150 basis points,” the bank stated. This implies an upward pressure of about 5 basis points compared to the level of 145 basis points on Thursday. The report added that some temporary factors may contribute an additional 5 basis points of upward pressure.