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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (54728)	8/12/2006 10:21:45 AM
From: RealMuLan	Read Replies (1) of 116555

Japan's Bonds Rise for Second Week on Economic Growth Slowdown Aug. 12 (Bloomberg) -- Japan's bonds rose for a second week as a government report showed the economy grew at less than half the pace economists forecast, curbing speculation growth is strong enough for the central bank to lift rates again this year. Benchmark debt yesterday rose for the first time in four days as the figures for second-quarter growth helped bonds recover losses set off earlier in the week by a stronger-than- excepted machinery orders report. Bonds also rose after the Bank of Japan yesterday announced a unanimous decision to keep interest rates and monthly bond purchases unchanged and Governor Toshihiko Fukui said the bank has no predetermined time for another rate increase. ``Bonds added to their gains this week,'' said Jun Fukashiro, a fixed-income fund manager in Tokyo at Toyota Asset Management Co., which holds the equivalent of $10.6 billion in assets. ``A weaker-than-expected gross domestic product report yesterday intensified concerns about Japan's economic slowdown.'' bloomberg.com

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