AGL 22.94 Increased By ▲ 0.91 (4.13%)
AIRLINK 111.29 Increased By ▲ 6.49 (6.19%)
BOP 5.25 Increased By ▲ 0.03 (0.57%)
CNERGY 3.72 Decreased By ▼ -0.01 (-0.27%)
DCL 7.99 Increased By ▲ 0.29 (3.77%)
DFML 40.27 Increased By ▲ 3.87 (10.63%)
DGKC 88.00 Increased By ▲ 0.95 (1.09%)
FCCL 21.99 Increased By ▲ 0.01 (0.05%)
FFBL 42.20 Increased By ▲ 1.24 (3.03%)
FFL 8.55 Decreased By ▼ -0.10 (-1.16%)
HUBC 153.29 Increased By ▲ 3.04 (2.02%)
HUMNL 10.45 Increased By ▲ 0.14 (1.36%)
KEL 4.50 Increased By ▲ 0.05 (1.12%)
KOSM 3.85 Increased By ▲ 0.06 (1.58%)
MLCF 36.80 Decreased By ▼ -0.10 (-0.27%)
NBP 47.99 Increased By ▲ 0.06 (0.13%)
OGDC 131.80 Increased By ▲ 2.10 (1.62%)
PAEL 26.15 Decreased By ▼ -0.34 (-1.28%)
PIBTL 6.03 Increased By ▲ 0.05 (0.84%)
PPL 115.50 Increased By ▲ 1.16 (1.01%)
PRL 22.60 No Change ▼ 0.00 (0%)
PTC 12.58 Increased By ▲ 0.06 (0.48%)
SEARL 55.69 Increased By ▲ 1.49 (2.75%)
TELE 7.20 Increased By ▲ 0.10 (1.41%)
TOMCL 37.00 Increased By ▲ 1.10 (3.06%)
TPLP 7.85 Decreased By ▼ -0.30 (-3.68%)
TREET 15.30 Decreased By ▼ -0.20 (-1.29%)
TRG 54.55 Increased By ▲ 0.54 (1%)
UNITY 31.86 Decreased By ▼ -0.14 (-0.44%)
WTL 1.17 Decreased By ▼ -0.02 (-1.68%)
BR100 8,343 Increased By 52.7 (0.64%)
BR30 26,335 Increased By 323.4 (1.24%)
KSE100 78,987 Increased By 447.9 (0.57%)
KSE30 25,365 Increased By 156.8 (0.62%)

TOKYO: Yields on the longest Japanese government bonds rose on Thursday from multi-month lows amid pressure from elevated US yields and as month-end buying by pension funds dried up.

The 20-year JGB yield was up 2.5 basis points to 1.205%, as of 0530 GMT, after dropping as low as 1.14% in the previous session for the first time since mid-December.

The 30-year yield also rose 2.5 basis points to reach 1.380%, rebounding from as low as 1.335% on Wednesday, a level last seen in early October. Benchmark 10-year JGB futures fell 2 yen to 146.67.

The cash note had yet to trade, and last yielded 0.5%, the upper limit under the Bank of Japan’s yield curve controls. Traders said an auction of 10-year notes went smoothly.

US Treasury yields had also climbed in Tokyo hours, with the 10-year rising to the highest since Nov. 10 at 4.028%.

US economic data has continued to run hot despite an aggressive rate-hiking campaign, and commentary from Fed officials has remained hawkish, with Minneapolis Fed President Neel Kashkari overnight saying he would raise his forecast for the path of interest rates at this month’s policy meeting.

“The Fed has kind of confirmed they will raise the terminal rate,” above what they’ve signaled so far, lifting US yields, said Naka Matsuzawa, chief strategist at Nomura Securities in Tokyo.

“The superlong sector in JGBs has been rallying like crazy for the last several days against a backdrop of higher US yields, so (today’s action) is not just a reaction to higher US yields,” he added.

JGB yields rise despite report dovish Amamiya approached to become BOJ chief

“The flattening of the curve has gone too far for supply-demand factors.”

The two-year JGB yield fell 0.5 basis point to -0.040%, while the five-year yield was flat at 0.200%.

Comments

Comments are closed.