Guillermo
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Japan's bonds gain on speculation - 2006/10/30 15:14
Japan's government bonds rose for a fifth day after a drop in industrial production backed speculation the central bank will keep interest rates unchanged this year.
Benchmark 10-year bonds had their longest rally in two months after stocks tumbled on speculation the slowest U.S. economic growth in three years will sap demand for exports. The Bank of Japan will probably leave interest rates unchanged tomorrow before releasing a semi-annual report that will outline the bank's forecasts for prices and the economy.
Industrial production dropped 0.7% in September, compared with a 1.8% gain in August, the government announced today. The median estimate of economists surveyed was for a 0.9% decline.
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