As for interest rates on term instruments, Euro-yen transactions, TB and FB rates maturing beyond the year-end are rising somewhat. The Japan premium remains negligible. Yields on long-term government bonds have been on a downward trend since mid-October, having decreased to around 1.55 percent temporarily, and are recently moving around 1.65 percent.
The yield spreads between private bonds (bank debentures and corporate bonds) and government bonds are mostly unchanged or decreasing somewhat. Stock prices continue to be weak, having recorded this year’s lowest level towards the end of November.