Shareminator
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Japan notes gain - 2006/10/24 14:15
Japan's five-year government notes rose the most in three weeks on speculation competition among telephone companies will slow inflation in Japan, delaying central bank interest rate increases.
Nikko Citigroup Ltd. economist Kiichi Murashima cut his estimate for core consumer prices, which exclude fresh food, after Softbank Corp. said it will cut mobile-phone fees. Bonds rallied in August after the government changed the way it calculates the data, leading to a larger than expected slowdown in inflation.
The yield on the benchmark five-year note fell 3.5 basis points to 1.285% at 4:42 p.m. in Tokyo, according to Japan Bond Trading Co., the nation's largest interdealer debt broker. It was the biggest decline since Oct. 3. A basis point is 0.01 percentage point.
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