TOKYO: Japanese government bond (JGB) yields fell on Wednesday as investors awaited Federal Reserve Chairman Jerome Powell’s speech and a slew of US economic data for policy clues.
The 20-year JGB yield fell 0.5 basis point to 1.125% and the 30-year JGB yield fell 2 basis points to 1.500%.
“There are no market-moving cues locally and all eyes are on the (Powell) event later in the day,” said Takayuki Miyajima, a senior economist at Sony Financial Group. “Yields are moving in a small range.”
The 40-year JGB yield fell 0.5 basis point to 1.755%. Powell is scheduled to speak about the economy and labour market at a Brookings Institution event later in the day.
A series of US data concerning manufacturing, inflation and jobs will also be released this week.
The 10-year JGB yield was flat at 0.250%.
JGB yields fall after Fed minutes signal slower rate hike pace
The two-year JGB yield and the five-year yield were also flat at -0.030% and 0.110%, respectively.
Benchmark 10-year JGB futures fell 8 yen to 148.7, with a trading volume of 11,087 lots.
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