AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

TOKYO: Japan’s 10-year government bonds were untraded for a third session in a row so far on Tuesday, on course to set a record despite upward pressure from overseas peers, while nine-year bond yields hit a two-week high.

The 10-year JGB yield were flat at 0.245%, just below the Bank of Japan’s upper end of the target yield of 0.25%.

The BOJ has been spending trillions of yen to hold the ceiling on the 10-year Japanese government bond yield as it keeps an ultra-low rate policy to support the economy, going against the global tide of tightening to contain inflation.

If the 10-year bonds remain untraded by the end of the session, it would be the first such occasion since newly issued 10-year bonds became the benchmark in 1999.

“Japan’s 10-year bonds have gotten expensive because yields on other notes have risen. No one is interested in trading such bonds,” said Kazuhiko Sano, chief strategist at Tokai Tokyo Securities.

“The market in a very unusual situation.” Yields on nine-year bonds maturing in September 2031, which are outside the BOJ’s target for controlling yield movement, rose to as much as 0.285%, its highest since Sept. 30.

Longer-term US Treasury yields shot higher in Asia on Tuesday, as bonds globally were sideswiped by a headlong rout in the UK gilts market amid fears pension funds were being forced into fire sales of assets.

Ten-year JGBs flat despite upward pressure from overseas peers

The 30-year JGB yield jumped 7 basis points to 1.430% ahead of an auction for the same maturing in the next session.

The 20-year JGB yield rose 4.5 basis points to 1.015%.

The two-year JGB yield rose 0.5 basis point to -0.065%.

The five-year JGBs did not trade and the yield was flat at 0.045%.

The 40-year JGBs did not trade and the yield stayed at 1.550%.

Comments

Comments are closed.