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JGBs Rise, 30Year Yield Dip as Virus Jitters Grow

Japanese government bond rates advanced on Monday, with the yield on 30-year bonds hitting its weakest level in almost 3 months, on developing worries about the new coronavirus that is beginning to spread in China and different nations.

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Benchmark 10-year Japanese government bond futures gained 0.26 points to 152.59, moving to their strongest since early December.

The yield on the benchmark 10-year money Japanese government bonds slipped 2 bps to minus 0.045 percent, having quickly hit an eight-week low of minus 0.05 percent.

The yield curve straightened as long-dated bonds with positive yields drew more offers, with the 20-year JGB yield dropping 3 bps to a two-month low of 0.235 percent.

The 30-year Japanese government bond yield skidded 3.5 bps to 0.370 percent, a trough last seen on Nov. 5.

The current 40-year Japanese government bonds were untraded by mid-evening, in front of a sell-off of 400 billion yen 40-year Japanese government bonds on Tuesday.

Source: Reuters


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