TOKYO: Japanese government bond yields ticked higher on Thursday, tracking overnight moves in US Treasuries amid worries about a quickening in global inflation.
The 10-year JGB yield rose 1 basis point to 0.240% as of 0520 GMT, after equivalent Treasury yields climbed to a two-week high of 2.95% on Wednesday.
The tick-up in yields gave a boost to demand at an auction of 10-year JGBs on Thursday, resulting in a smooth sale, market participants said.
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“After today’s 10-year JGB auction, there is the release of US non-farm payrolls report tomorrow, so the market’s focus will again be on the direction of US yields,” said Shinsuke Kajita, chief strategist at Resona Holdings.
The 20-year JGB yield added 1 basis point to 0.765%, and the 30-year yield gained the same amount to 1.045%.
Five-year yields rose 0.5 basis point to minus 0.005%. The two-year note had yet to trade for the day, and last yielded -0.075%.
Benchmark 10-year JGB futures fell 0.06 point to 149.7.
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