JGBs flat ahead of US tax bill, Fed chief nomination

TOKYO: Japanese government bond prices were little changed on Thursday as a wait-and-see mood prevailed ahead of key events pertaining to US. fiscal and monetary policy.

The benchmark 10-year JGB yield stood flat at 0.055 percent and the 20-year yield was also unchanged, at 0.585 percent.

The financial markets awaited the US. tax bill that will be unveiled later in the session after a one-day delay.

Also in focus was who US. President Donald Trump would pick as the next Federal Reserve Chair later on Thursday.

Trump plans to nominate current Fed Governor Jerome Powell, seen as less hawkish compared to other candidates, as the next Fed chief, a source familiar with the matter said.

In the meantime, JGBs drew mild support as the Bank of Japan conducted a regular debt-buying operation on Thursday, purchasing 710 billion yen ($6.23 billion) of five- to 40-year bonds.