Long-term and ultra-long-term bonds are rising, and US interest rates are falling - medium-term bonds are soft due to interest rate hikes and bidding warnings

Updated 2024/7/26 10:53 JST (some excerpts)
Long-term bonds and ultra-long-term bonds rose in the bond exchange rate on the 26th. Buying is taking precedence in response to the decline in long-term interest rates in the US. On the other hand, medium-term bonds are weak due to a sense of caution that the Bank of Japan will decide on interest rate hikes at next week's monetary policy meeting and sales for 2-year government bonds on this day.
　　Otsuka Takahiro, senior bond strategist at Mitsubishi UFJ Morgan Stanley Securities, pointed out that in addition to overseas market trends, the ultra-long-term zone is historically at an undervalued level and that there is a buyback movement due to the end of 40-year bidding.
　　On the 26th, the Ministry of Finance presented a bid for 2-year interest government bonds (463 bonds) with a surface interest rate of 0.4%. The amount to be issued is about 2,600 trillion yen, unchanged from the previous one.