TOKYO: Japanese government bond (JGB) prices broadly rose on Friday, tracking overnight gains in US Treasuries amid rising expectations of interest rate cuts by the Federal Reserve.
The benchmark 10-year JGB yield and the 20-year yield lost one basis point each, to minus 0.125pc and 0.245pc, respectively.
Short-dated maturities were a shade stronger, with the two-year yield and the five-year yield off half-a-basis point each, at minus 0.205pc and minus 0.235pc, respectively.
Ten-year JGB futures ticked up 0.04 points to 153.48, with a trading volume of 14,628 lots by mid-afternoon trade.
The Bank of Japan offered to buy 480 billion yen ($4.4 billion) of five- to 10-year bonds at a regular debt-purchase operation on Friday.
Increased expectations of US central bank rate cuts pulled short-dated yields lower on Thursday, steepening the yield curve ahead of retail sales data later on Friday and the meeting of Fed policymakers next week.