Naomi Hasegawa Market Quotations

US Treasuries, particularly long-term bonds, were robust on Friday, when the Japanese market was closed. Some bond investors view the surge in stocks as bubble while some investors take comfort in the view that the zero-interest rate policy will continue even after the Bank of Japan lifts ultra-loose monetary stance.

Market participants are reluctant to take fresh positions before the release of Jan US non-farm payroll data.

Market expectations appear to be accelerating and unless the central bank takes action soon, it may lose the market's confidence.

Trading in future contracts led the market today, with bullish sentiment there gradually spreading to cash bonds. This is probably because some investors took heart from a pullback in the equity market here.

The bond market reacted directly to the equities market, like a textbook example.

The Bank of Japan's decision was well anticipated. Most measures it plans to implement appear to be within market expectations.

The GDP data emerged largely in line with market expectations, so they moved to liquidate their short positions to pocket profits.

The JGB market got some lift from losses in stock prices and from index-trackers (funds) stepping in to purchase government debt paper.