Super-long JGB yields rise after BOJ's steady buying operation

TOKYO: Super-long Japanese government bonds edged lower on Monday after the Bank of Japan (BOJ) conducted regular buying operations, with both the 30-year and 40-year JGB yields hitting one-year highs.

The BOJ maintained the size of its JGB purchase and bought bonds of one- to three-year maturities worth 340 billion yen and 25- to 40-year maturities worth 30 billion yen, as expected by market participants.

Benchmark 10-year JGB futures fell 0.03 point to 152.17, with a trading volume of 13,661 lots, while in the cash bond market, the 10-year JGB yield rose half a basis point to 0.005pc.

The 30-year JGB yield gained 1.5 basis points to 0.515pc, while the 40-year JGB yield rose 2.5 basis points to 0.555pc. The 20-year JGB yield was unchanged at 0.350pc.

In contrast to the trend seen at the longer end of the market, the two-year JGB yield and the five-year yield dipped half a basis point each to minus 0.170pc and minus 0.135pc, respectively.

The Nikkei share average gained 0.8pc to 22,062.39, its highest closing level since the end of February.