Long-term JGB yields rise as part of global reflation trade
- Benchmark 10-year JGB futures dipped 0.04 point to 151.76, with a trading volume of 20,074 lots.
TOKYO: Long-term Japanese government bond yields rose on Friday, tracking a similar move in Treasuries, as prospects of large fiscal spending under incoming U.S. President Joe Biden lifted expectations of higher inflation in the world's largest economy.
Yields on 30-year bonds were also supported after an auction for the tenor earlier on Friday saw a slight dip in demand compared with the previous auction.
Benchmark 10-year JGB futures dipped 0.04 point to 151.76, with a trading volume of 20,074 lots.
The 10-year JGB yield was flat at 0.035%. The 20-year JGB yield rose 1 basis point to 0.415%.
At the long end of the yield curve, the 30-year JGB yield rose 0.5 basis point to 0.655%, though the 40-year JGB yield was flat at 0.695%.
The five-year yield fell 0.5 basis point to minus 0.110%. At the short end, the two-year JGB yield fell 0.5 basis point to minus 0.125%.
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