Keeping rates near zero percent is creating concern among people in the market that inflation may speed up years from now. That's causing yields on long-term debt to jump.
More Quotes from Tsutomu Kawasaki:
The selling was just too excessive and yields look high enough to be attractive. The central bank has assured it will keep rates near zero for a while, which makes people feel safer about buying.Tsutomu Kawasaki
The auction was better than I expected and showed solid demand for the debt. The note has priced in speculation the central bank will shift monetary policy and the move was too excessive.
Tsutomu Kawasaki
The time to sell debt is approaching. The production data showed Japan's economy is expanding and it may give the central bank more confidence to change policy. Bonds will probably stay heavy.
Tsutomu Kawasaki
I think bonds look attractive enough to buy as yields are appealing. The decline in stocks is creating a comfortable situation for people to buy debt.
Tsutomu Kawasaki
Yields are set to climb as we see signs of inflation. Fukui's comments assured us he has not given up the plan to shift monetary policy.
Tsutomu Kawasaki
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