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How To Make Abenomics Work For You, Even If It Won't Work For Japan
Wall Street Sector Selector • Mon, Jun 17 • 1 Comment
Japan: No News Is Bad News
Scott Sumner • Fri, Jun 14 • 14 Comments
Should Japan Aim For 2% Inflation?
Scott Sumner • Wed, Jun 12 • 1 Comment
What's The Big Fuss Over 10-Year Japanese Government Bonds?
Cullen Roche • Tue, Jun 11 • 3 Comments
The Asset Class Serial Killer: Who's Next?
Eric Parnell • Tue, Jun 4 • 21 Comments
A False Dawn In The Land Of The Rising Sun
Igor Novgorodtsev • Tue, May 28 • 61 Comments
DC Plan Sponsors Should Look Further Than Their Own Backyard
AllianceBernstein • Tue, May 21
Japanese Rates Influencing Gold
Chris Ridder • Fri, May 17 • 10 Comments
Big Things Happening In Japan
Calafia Beach Pundit • Tue, May 14 • 4 Comments
Hard To Get Warm And Fuzzy About Japan At These Levels
Emerging Money • Tue, May 14 • 1 Comment
Japan's Market Drama Continues To Amaze
Doug Short • Mon, May 13 • 3 Comments
Japan: Inflation, Deflation Or Bond Crash?
Squeeky Wheel • Mon, Apr 29 • 38 Comments
Japan's Post-Bubble Market Rallies And Bond Yields
Doug Short • Fri, Apr 5 • 2 Comments
On The BoJ's Latest Move: Nothing To See Here Folks, Move Right Along
Scott Sumner • Thu, Apr 4 • 5 Comments
26 ETNs May See Premiums And Discounts After Issuance Halted
Tom Lydon • Fri, Mar 15 • 3 Comments
The Great Rotation... In Japan?
Julian Marchese • Thu, Mar 7 • 2 Comments
Japan's Economic Woes Are Good For Gold
Alex Canahuate • Wed, Jan 23 • 29 Comments
Japanese 10-Year Bond Yields Heading Toward 2% As Yen Slides Further In 2013
Sean Maher • Mon, Dec 3, 2012
Has Tokyo Finally Neutered The BOJ?
Free Cash Flow 50 • Sat, Nov 10, 2012 • 25 Comments
Japan's Post-Bubble Market Rallies And Bond Yields
Doug Short • Tue, Oct 30, 2012 • 2 Comments

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JGBT vs. ETF Alternatives

JGBT Description

The PowerShares DB 3x Japanese Govt Bond Futures Exchange Traded Notes (Symbol: JGBT) (collectively, the "PowerShares DB JGB Futures ETNs," or the "ETNs") are the first exchange-traded products to provide investors with leveraged or unleveraged exposure to the U.S. dollar value of the returns of a Japanese bond futures index.
See more details on sponsor's website

Country: Japan

Key Info

In Your Portfolio: A Guide to International and Emerging Market Government Bond ETFs
Asset Class Performance: Bonds, Countries

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| Dividends
| M&A
| On the move

Tuesday, June 11, 11:35 PM Although the chances are good that "the current economic upswing [will] gather further pace" in Japan, policies designed to alter demographic trends and boost the labor force participation rate are "unlikely to have a significant impact on economic growth," Credit Suisse says. As for boosting inflation, "there are a number of reasons to doubt that the BOJ … will achieve its target." The good news: Fears that inflation expectations combined with institutional selling could trigger a government bond (JGBL, JGBT, JGBS, JGBD) crisis are "probably exaggerated." (Previous: Kyle Bass sees crisis) Comment! [Global & FX]
Friday, June 7, 7:14 AM Long Nikkei, short yen continues to unwind with investors in 2013's most popular trade all hitting the exit at the same time. The yen's up another 1.6%, with dollar/yen at ¥95.47 and erasing more than 2 months worth of gains in the last few sessions. FXY +1.3% premarket. The Nikkei tumbled another 1.8% overnight and has also erased 2 months worth of gains. DXJ -2.3% premarket. Earlier: Japan's government pension fund confirms it's cutting JGB exposure and increasing equity holdings. 1 Comment [Global & FX]
Friday, May 31, 7:36 AM A rare bird is spotted in Japan ... price hikes. With the weakening yen (FXY) starting to hit profits, Apple bumps the prices of iPads and iPods. The company joins Tiffany, Miele, and Volkswagon who also increased prices recently. 10-year JGB yields continue under 1%, off 4 bps overnight to 0.85%. 2 Comments [Global & FX]
Thursday, May 30, 7:35 AM Nikkei futures go nuts, reversing most of a 5% overnight plunge on word Japan's public pension fund is considering shifting to a more pro-equity stance. They're off just 0.4% at the moment. NKY -1% premarket. 13 Comments [Global & FX, On the Move, Top Stories]
Thursday, May 30, 7:24 AM The recently-plunging Nikkei may have already solved this issue, but Japan's giant public pension fund (GPIF) is considering a change in strategy that would otherwise force it to sell stocks (EWJ, DXJ) and buy JGBs (JGBS) as equities rally and bond prices fall. No significant change in policy has been made since 2006. Of interest: Last night's 5% dive in stocks failed to put in a bid for JGBs, the yield on the 10-year flat at 0.89%. 3 Comments [Global & FX]
Wednesday, May 29, 7:28 AM Skittishness in the markets has the yen (FXY) resuming gains against the dollar, with dollar/yen sliding 1.2% to ¥101.13. After a couple of frightening plunges in the past few sessions, the Nikkei took the yen's gain rather well, falling just 0.9% to 14,189. EWJ -1.7%, DXJ -1.5% premarket. Action to eye: The JGB market as the 10-year yield carves out a new Y/Y high, up 4 bps to 0.93% 2 Comments [Global & FX]
Sunday, May 26, 10:54 PM Minutes from the BOJ's April 26 meeting show some board members believe the link between inflation expectations and actual inflation is tenuous, underscoring the notion that inflation will remain below the BOJ's official forecast of 1.9% in 2016. Additionally, some members noted the apparent contradiction in buying bonds to keep rates low while simultaneously promoting inflation (which would put upward pressure on yields). Some commentators have flagged this perceived inconsistency as a contributing factor to recent volatility in the market for Japanese government bonds (JGBL). 6 Comments [Global & FX]
Friday, May 24, 3:41 AM The yen is higher vs the dollar as volatility in the currency markets somewhat echo the gyrations in Japanese stock markets. Bank of Japan Governor Haruhiko Kuroda says that the BOJ has no set target for the yen and that stability in Japanese debt market is "extremely desirable." His comments follow the extreme instability yesterday, when 10-year JGB yields rose as high as 1%, prompting the BOJ to step in with a fund-supplying operation. Dollar -0.5% at -¥101.54. Comment! [Global & FX, Top Stories]
Thursday, May 23, 4:42 AM Even Japanese stocks are subject to the law of gravity (who knew?) as a confluence of factors sends the Nikkei (EWJ, DXJ) plunging 7.3% on the session (the swing from intraday high to low was ~9%). Yields on JGB 10s (JGBL) spiked above 1% at one point as an already skittish and volatile market was further rattled by what have generally been perceived as hawkish comments out of Ben Bernanke and other Fed officials on Wednesday. Yields pulled back in late trading. Compounding the problem for Japanese stocks was the yen (FXY), which has strengthened some 2% against the dollar to 101.16 most recently. (See also: China HSBC flash PMI shows contraction) 8 Comments [Global & FX, On the Move]
Wednesday, May 22, 4:55 AM More from the BOJ: Governor Kuroda elected to steer largely clear of what many view as a no-win situation Wednesday when he didn't use this week's policy meeting statement to jawbone government bonds (JGBL) higher. Surging yields have underscored concerns that the BOJ's purchases could suck liquidity from the bond market, stoking volatility, but rising yields can also be interpreted as a sign investors expect the BOJ will be successful at reflating the Japanese economy. However, acknowledging this is somewhat counterintuitive as "the whole aim of QE is to keep bond yields down," one economist tells CNBC, adding that the BOJ is "damned if they do, damned if they don't." Yields on JGB 10s moved higher to 0.89% after the statement. Comment! [Global & FX]
Tuesday, May 21, 11:38 AM In case anyone was curious, Kyle Bass continues to bet on a full-blown Japanese currency (FXY) and government debt (JGBT, JGBL, JGBS, JGBD) crisis. "This gross vs. net argument is just silly," says Bass alluding to large official and other domestic holdings of JGBs. "If they go to try and sell any of those assets, it will create a panic." Bass commissioned a poll of Japanese investors asking their reaction if the government asked them to buy JGBs amid a crisis: 8% said they would buy, 83% said they would "run, not walk" from the paper. 2 Comments [Global & FX]
Monday, May 20, 9:47 AM UBS' 5 "suspected" asset bubbles: 1) Risk-free rates - specifically Treasurys (TLT), Bunds (BUND, BUNL), JGBs (JGBL, JGBT, JGBD, JGBS) 2) Credit (HYG, JNK) 3) Real estate in Asia (WPS) 4) Certain EM equity markets (EIDO, IDXJ, EPHE, THD, EWW) 5) Australian banks (WBK, NABZY.PK, ANZBY.PK, CMWAY.PK). Comment!
Wednesday, May 15, 7:32 AM The Nikkei (EWJ, DXJ) soared another 2.3% overnight to top 15K for the first time since 2007 as the yen (FXY) slid 0.3% to a new multi-year low of ¥102.65. Leading was Sony (SNE), up 10% following Dan Loeb's push for a breakup. Toyota (TM) paced the exporters with a 3.7% gain. JGBs (JGBL) were calm, the yield on the 10-year flat at 0.86%. 4 Comments [Global & FX, On the Move]
Tuesday, May 14, 1:24 PM Nearly 50% of the world's $19.4T in government bonds trades with a yield below 1%, according to BAML. What amazingly might turn the statistic could be Japanese Government Bonds. JGBs shot up another 11 bps overnight, now yielding about their highest in a year at 0.86%. If Abe-nomics succeeds, the leveraged inverse JGB ETN (JGBD +1.7%) will be a popular spot. Comment!
Friday, May 10, 8:04 AM Japanese government bonds take notice of the crumbling yen, with 10-year JGBs shooting higher by 10 bps overnight to 0.69%. The yield remains ridiculously low, but a 10 point move in such a sleepy instrument bears watching. The 3x inverse JGB futures ETN (JGBD) +1.8% premarket. Other JGB ETNs: JGBL, JGBS, JGBT. Comment! [Global & FX]
Wednesday, April 17, 8:56 AM Following a nearly 3-week period in which DB halted creations for 26 ETNs on which it's the indexer, the bank finally resumed creations on the notes yesterday. The affected notes follow: BDD, BDG, BOM, BOS, BUNL, BUNT, DEFL, DGP, DGZ, DOD, DTO, DZZ, INFL, ITLT, ITLY, JGBD, JGBL, JGBS, JGBT, LBND, OLO, SBND, SZO, UDNT, UUPT, WMW. 1 Comment

JGBT PowerShares DB 3x Japanese Government Bond Futures ETN

JGBT

PowerShares DB 3x Japanese Government Bond Futures ETN