Long-dated JGB yield ticks up in sympathy with global trends

TOKYO: Yields on long-dated Japanese Government bonds edged up on Wednesday after European and U.S. bond yields soared on comments from the European Central Bank President Mario Draghi that fuelled expectations that the ECB is close to reducing stimulus.

The yield on the benchmark 10-year JGB rose 1.0 basis point to 0.055 percent, though it is still in its narrow trading range between 0.045 and 0.060 percent over the past few weeks.

The 20-year yield rose 1.0 basis point to 0.565 percent  while the 30-year yield went up 1.5 basis point to 0.815 percent.

The market tracked the rise in U.S. and European bond yields after Draghi indicated that the central bank might tweak its stimulus so that it does not become more accommodative as the eurozone economy recovers.

Still, there was some buying in long-dated JGBs after the Bank of Japan's operation in those maturities drew limited selling from market players.

The benchmark 10-year JGB futures price fell 0.10 point to 150.52.