Japanese Inflation Is `Stubbornly Low,' Fidelity Says, Favors Japan Debt

(Bloomberg) -- Fidelity Investments, the world's biggest mutual-fund company, said the firm favors five-year Japanese government bonds.

``Inflation remains stubbornly low in Japan,'' said Andrew Wells, chief investment officer for Asia fixed income, at a conference on investing organized by Fidelity in Singapore. ``Short-term rates above 2 percent in the next two to three years is a far-fetched story.'' The Bank of Japan's benchmark interest rate is 0.5 percent.


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