JGBs gain after Swiss move, 10-year yield hits record low

TOKYO: Japanese government bond prices rose on Friday, with the 10-year yield hitting a new record low, after Switzerland's central bank unexpectedly scrapped its currency cap and jolted global financial markets.

As Basel's move prompted investors to sell shares worldwide to offset losses on the franc, JGBs attracted flight-to-quality bids.

The 10-year JGB yield fell to as low as 0.225 percent , setting record lows for four days in a row. It last stood at 0.240 percent, down 0.5 basis point on the day.

The 20-year yield dipped 0.5 basis point to 0.905 percent .

Global bond prices rallied on Thursday, with the U.S. 30-year bond yield hitting a record low.