The Denko Group reported a further softening in demand for Japanese bonds, a further indicator of the slow but definite recovery of that economy
Reports due this week on economic data including machine orders are expected to show improvement, triggering an advance in stocks late last week. The positive news is drawing investors away from the safety and low returns of government issued debt.
This expectation was strengthened by the results of the Tankan survey, issued last week by the Bank of Japan. It indicates business confidence climbing to a level not seen for eighteen months. With increases in exports charging the way, the central bank will likely raise their assessment of the economy next week.
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