TOKYO: Japanese Government Bond prices ticked up on Monday, extending their rally on the back of a supply shortage caused by the Bank of Japan's massive bond buying.
The 10-year JGB yield ticked down 1.0 basis point to 0.340 percent, briefly falling to 0.335 percent at one point, its lowest since April 2013.
The Bank of Japan offered to buy a total of 1.3 trillion yen of bonds on Monday as a part of its plan to increase JGB holdings by 80 trillion yen a year to stimulate the economy.
The 30-year yield fell 1.5 basis point to 1.305 percent. The 10-year JGB futures ticked up 0.16 point to 147.70.
The market was also helped by firmness in US Treasuries overnight.
Trading was slow ahead of a market holiday on Tuesday and Christmas Day, when the market is open but many foreign investors will be away for holiday
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