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Markets

Most JGB yields fall after solid 40-year auction

  • The 10-year JGB yield fell 0.5 basis point to 0.030%, while the 20-year JGB yield fell 1 basis point to 0.435%.
26 Jan 2021

TOKYO: Yields on most Japanese government bonds (JGBs) fell on Tuesday after an auction of 40-year notes witnessed solid demand, easing concerns around investors' low appetite for new debt.

Weighing on yields further was higher demand for safe assets due to worries about a delay in US fiscal stimulus and concerns about the slow pace of coronavirus vaccinations.

Japan's finance ministry received bids worth 2.86 times the amount of bonds sold, which was higher than the bid-cover ratio of 2.67 at the previous auction of 40-year debt in November.

Benchmark 10-year JGB futures rose 0.09 point to 151.97, with a trading volume of 10,950 lots.

The 10-year JGB yield fell 0.5 basis point to 0.030%, while the 20-year JGB yield fell 1 basis point to 0.435%.

At the long end of the curve, the 30-year JGB yield fell 0.5 basis point to 0.650%. The 40-year JGB yield rose 0.5 basis point to 0.705%.

The five-year yield fell 0.5 basis point to minus 0.125%.

At the short end, the two-year JGB yield was flat at minus 0.140%.