Insight & Analysis

Press release: New Japanese government bond market data service

Published: Feb 2023

1st February 2023 – TraditionDATA, the market leading data and intelligence division of Compagnie Financière Tradition (“Tradition”), has launched a new Japanese Government Bond (“JGB”) data product. This will provide precise, intra-day, indicative market data and access to all issues across the JGB yield curve, offering a more accurate, timely, and credible alternative to the majority of aggregate-based data packages currently available.

UEDA Tradition Securities (“UEDA Tradition”) has been operating as an Inter-Dealer Broker (“IDB'”) in Japan for thirty seven years and is one of the largest IDBs currently providing institutional pricing during the trading day in Japan. This new product, based on data taken directly from UEDA Tradition’s trading desk and analytics team in Tokyo, will provide the much-needed data for global fixed income investors and managers seeking insight into the world’s second largest government bond market.

With nearly four decades of operating a leading bond market desk in Tokyo, TraditionDATA noted the strong customer demand for accurate, IDB-sourced independent data in an otherwise opaque market. Some further volatility and dislocations are expected in the Japanese bond market, which has been marked by ongoing instability. Most recently this saw benchmark 10-year Japanese government bond rates rising above the Bank of Japan’s target ceiling of 0.5 per cent, calling into question the central bank’s ultra-loose monetary policy and yield curve control measures.

Access to high-quality data gives investors and managers greater visibility and awareness of the risk and return characteristics of Japanese Yen (“JPY”) denominated sovereign debt, considered the benchmark for all Asia Pacific (“APAC”) fixed income markets.

Mike LaTona, Head of Product – Fixed Income at TraditionDATA, said: “The last five years have been challenging for investors in the Japanese Government Bond market, with 10-year JGB yields underwhelming for those seeking robust returns thanks to the Bank of Japan’s yield curve control, the Government’s zero interest rate policy and other macroeconomic factors. We hope that as we move further into 2023, global investors will be able to reap the benefits of our JGB market data packages, giving them more confidence to access the market as part of a suite of low-risk products in their portfolios.”

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