Core Viewpoint - Nomura Securities suggests that if the Japanese government decides to reduce issuance, the ultra-long Japanese government bond market may continue to stabilize in the future [1] Group 1 - Nomura Securities strategist Jin Moteki believes that the Ministry of Finance may shift towards short-term borrowing starting in the third quarter, reducing the issuance of ultra-long bonds while increasing the issuance of short-term bonds [1] - This expectation appears to have led to a bull flattening of the Japanese government bond yield curve today [1] - Close attention is required on the results of the Japanese government bond primary dealer meeting scheduled for June 20 [1]