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(CEP News) - After a contraction in Japanese capital spending, Asia-Pacific fixed income markets are gaining and equities closed lower with yields on Australian 10-year bonds down 14.0 bps to 5.62% and Japanese 10-year government bonds down 5.2 bps to 1.47%.
Japanese capital spending decreased far more than expected in the second quarter, by 6.5% despite expectations for a 0.9% increase and against a 4.9% decline in the first quarter. Capital spending excluding software also took a deeper dive than expected, decreasing by 7.5% against the forecast for a 1.0% decrease and last month's decrease of 5.3%. Sydney's S&P ASX 200 closed down 102.40 points to 4877.1. Japanese Nikkei closed down 345.43 points to 12212.23 and the Hang Seng down 456.20 points to 19933.28. Yields on three-year Australian bonds were down 8.6 bps to 6.48 and the Australian 90-day March 09 contract was up 2.0 ticks to 93.47. The Euroyen March 09 contract was up 3.0 ticks to 99.23. The Australian dollar was down 1.36 cents to 0.8093 against the USD and down 1.69 cents to 0.8632 against the Canadian dollar. Against the yen, the U.S. dollar was down 0.83 points to 106.25 and the Canadian dollar was down 0.51 points to 99.61. The euro was down 0.90 cents to 1.4236 USD. All data taken at 6:29 a.m. EDT. Generated by CEP Newswires, edited by Nancy Girgis,
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