Reuters 9 TOKYO The Tokyo market on Thursday morning, but it is continually rising interest rates, long-term interest rates by 1.2 percent level is a concern with negative impact on the real economy still has not come as a low

Reuters 9 TOKYO The Tokyo stock market continued on Monday morning, but rising interest rates, interest rates and by 1.2% level is a concern as an adverse effect on the real economy has not yet been lower still. The upside of the stock will be rounded up to the expected economic recovery in Japan and the yen's depreciation against the U.S. dollar rising U.S. interest rates.

Swing momentum toward the weaker yen and stronger yen led to higher than expected November jobs data Takeshi is the only market instability. The stock is also highly sensitive to short-term overheating, tomorrow measure SQ (special Quatation) are also out of the view that it became a turning point calculation.

<Continued rise in interest rates>

In the yen bond market 高速 , while government bond futures to remain at slightly higher, cash bond yields rose across the board. While buying futures zone had been abandoned for cheap life insurance companies ちょっと考えてしまう高速バス格安＠のご提案 , the sale of medium and long term government bonds zone spot. Buy super-long zone government bond spot He added, "Long term debt of" retained for operations decided on, that is most likely to be said.

Meanwhile, the mood has picked a quarrel with sidelined from five-year government bond auction of the new movement was a major investor urges banks slow, he said.

The Treasury Department announced this morning, "Status of the Securities Purchase Agreement and inward foreign", according to foreign investment from 28 December 4 November, 7623 was over one hundred million yen in net disposal of long-term bonds. 3 weeks in a row over the disposal are likely to continue to dispose of bonds because the U.S. urged domestic banks. In the market, "the movement of the cutting losses due to rising U.S. interest rates, pushing up bond yields in Japan" (foreign securities) and many voices.

One participant said, "investment losses from foreign debt, which still remain" (foreign financial institutions) was asked to voice.

The central bank to control interest rates is difficult. However, quantitative easing, the U.S. 2nd (QE2) has received a U.S. interest rate hikes, the Federal Reserve Board (FRB) and contrary to your intentions, "If this situation continues, FRB and verbal restraint by QE2 volume expansion, did not enter the field changes the ratio of debt purchase "(Bond, chief strategist at Tokai Tokyo Securities Sano Kazuhiko) also pointed out.

<High sense of vigilance in the stock market>

The Nikkei stock market continued to rise slightly. Go to the weaker yen against the U.S. dollar rise in U.S. interest rates, export shares were bought well, even buying from the financial sector expected to expand margins due to higher domestic interest rates. If stock prices rise in interest rates due to poor financial insecurity, but negative, pessimistic mood was not so far.

Mr. Hamasaki Masaru's トヨタアセットマネジメントチーフストラテジスト "Although interest rates have risen in the U.S. will not put pressure on the economic level as yet. Japanese stocks have a positive environment that promoted strong dollar weaker yen are expected to continue. On the other hand, is difficult to forecast even like to improve the U.S. housing market intensified moves to buy now out of the house to guard against rising interest rates loans in the future. houses the U.S. side supply and demand remain high levels of stock because of the strong selling pressure, "he said.

However, futures and options contract 12 SQ (special Quatation) tomorrow ahead of the calculation, active in purchase behavior is scarce. "The Nikkei is in the sphere of high in dollar terms so far this year, from the viewpoint of Japanese stocks undervalued overseas power is weakening. Japanese equities and considering the expected return in the next fiscal year is still a discount, but on foot has become such an abnormal accumulation exceeds 2 trillion yen to buy the remaining decisions. SQ turning point tomorrow, but may be adjusted once "(Seiichi Suzuki, market analyst at Tokai Tokyo Securities) and voice are also out.

<Swing in the yen Takeshi employment statistics>

The FX market this morning, advanced rapidly under the Australian dollar much higher than expected employment figures in Australia. U.S. dollars are sold in dollar / yen fell below 84 yen. Sentiment that was easy to take the risk, dollar rebounded against the euro.

Number of employees in Australia in November increased by 46 million 50,000 19,000 increase far exceeded market expectations. "The only jobs are increasing in this country of 20 million people monthly basis in an intense affair. Motage a goose-neck has a temporary rate increase following observations were significant setback" (the Institute of forex com burst president, Daisaku Ueno) and was asked. Australian dollar lately, had remained weak in the observed decline in commodity prices and China's rate hike.

AUD / USD spread to the rise of the dollar / yen fell. 84 yen to interrupt, temporarily reduced to near 83.65 yen. Also depressed the dollar selling rate of Japanese export bias. U.S. interest rates upward trend as an extension of tax cuts in the U.S. are still continuing, the dollar / yen is near the high of the mid-84 yen lately has many views to rise.

(Japanese news team financial markets Reuters)

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