TOKYO: Japanese government bond (JGB) yields rose and futures fell on Wednesday, as strong US corporate earnings and a likely resumption of Russian gas supply to Europe boosted investors’ appetite for riskier assets.
The 10-year JGB yield rose 0.5 basis point to 0.240% and the benchmark 10-year JGB futures fell 0.11 point to 149.19, with a trading volume of 8,834 lots.
“Sentiment has improved, thanks to various issues such as falling gasoline prices in the US, but this is just a rebound from pessimism,” said Hideki Shibata, senior rates and currencies strategist at Tokai Tokyo Research Institute.
JGB yields subdued ahead of central banks’ meetings
“There are still uncertainties about the fate of the Nord Stream.”
Sources told Reuters that Russian gas flows through the Nord Stream 1 pipeline are seen restarting on time on Thursday after the completion of scheduled maintenance, easing investors’ concerns about gas supply to Europe.
The 20-year JGB yield rose 1 basis point to 0.915% and the 30-year JGB yield also rose 1 basis point to 1.270%.
The 40-year JGB yield rose 1.5 basis points to 1.455%. The five-year yield rose 0.5 basis point to 0.025%.
The two-year JGB yield was flat at -0.080%.
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