Market Snapshot: Japanese, U.S. Yields Drop Following BOJ Decision, Jobless Claims and Q1 GDP Data

oday, the Bank of Japan’s decided not to pursue additional monetary easing even as it emphasized its readiness to act if warranted. Following this, 2-year yields increased while 10-year and 30-year yields dropped, according to Tradeweb data.

At -0.229%, the bid yield on the 2-year bond continued its recent climb, moving up 1.5 bps from yesterday’s close of -0.244%. Intraday yields ranged from a high of -0.226% to a low of -0.246%.

The bid yield on the 10-year bond fell to -0.076%, down 1.7 bps from yesterday’s close of -0.059%, with an intraday low of -0.089% and an intraday high of -0.056%.

Meanwhile, the 30-year bond dropped to 0.339%, down 4.4 bps from yesterday’s close of 0.383%. Intraday yields ranged from a low of 0.335% to a high of 0.388%.

In the U.S., the bid yield on the 10-year Treasury note dropped to 1.840%, down 2 bps from yesterday’s close of 1.860%, and intraday yields ranged from a low of 1.812% to a high of 1.870%. This follows jobless claims increasing to 257,000, an increase of 9,000 from last week’s revised 248,000, and data showing Q1 GDP at a 0.5% annual rate.

The 2-year Treasury note dropped to 0.789%, down 5.2 bps from yesterday’s close of 0.841%. Intraday yields ranged from a low of 0.789% to a high of 0.825%.

In Germany, the bid yield on the 10-year Bund dropped to 0.256%, down 2.9 bps from yesterday’s close of 0.285%, and intraday yields ranged from a low of 0.219% to a high of 0.289%.

Yields were taken at 2:45 PM ET. 

The charts below are based on indicative, real-time data from Tradeweb.

CHART 1: Japanese 2-Year Bond Yield – April 30, 2015 – April 28, 2016 (12 Month View)

CHART 2: U.S. 2-Year Treasury Yield – April 30, 2015 – April 28, 2016 (12 Month View)