TOKYO: Japanese government bonds (JGBs) inched higher on Thursday, taking the benchmark yield down to a level not seen since the days following the Bank of Japan's announcement of its massive easing programme in April 2013.
Market moves were relatively small, with investors taking cues from weak equities and stronger US Treasuries prices overnight.
BoJ buying under its asset purchasing scheme also underpinned the market.
The BoJ offered to buy a total of 800 billion yen of JGBs, including 400 billion yen of JGBs in the 5-year to 10-year zone, 240 billion yen of JGBs maturing in between 10 years and 25 years, and 160 billion yen of JGBs maturing in 25 years or more.
The current 2-year note was untraded in the morning session, while the 5-year JGB yield was flat at 0.105 percent.
The benchmark 10-year JGB yield edged down half a basis point to 0.425 percent, its lowest since early April 2013.
In the superlong zone, the 20-year yield fell 1.5 basis points to 1.190 percent, while the 30-year yield was flat at 1.400 percent.
Lead 10-year December JGB futures rose 0.12 point to 146.85, after touching a record high 146.88.
The Nikkei stock average shed 0.7 percent.
The yield on benchmark 10-year US Treasury notes was last at 2.244 percent in Asian trading, compared to its US close of 2.234 percent on Wednesday.
US markets will be closed Thursday for the Thanksgiving holiday.
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