Citi Sees Bigger Yen Rally Depending on Shift Back to Japan Bonds

The yen’s strongest three-day rally since August 2024 isn’t enough to turn Citigroup Inc. strategist Daniel Tobon into a yen bull just yet. To keep the gains going, he said,...

By Anya Andrianova · Bloomberg Markets

The yen’s strongest three-day rally since August 2024 isn’t enough to turn Citigroup Inc. strategist Daniel Tobon into a yen bull just yet. To keep the gains going, he said, Japanese buyers will need to start shifting cash back to the nation’s bond market again.