Most Japanese government bond (JGB) prices rebounded on Thursday, taking their cues from firmer US Treasuries in Asian trading and weaker global stocks amid fears of a fresh wave of coronavirus infections.
Benchmark 10-year JGB futures rose 0.06 point to 152.12, with a trading volume of 18,670 lots, while the key 10-year cash bond yield fell one basis point to 0.005pc.
The five-year cash JGB yield slipped half a basis point to minus 0.115pc after Thursday's 1.9 trillion yen ($17.8 billion) five-year debt auction attracted fair investor interest.
The auction bid-to-cover ratio, a gauge of demand, declined to 3.78 from 4.49 at the previous sale last month.
In the super-long zone, the 20-year JGB yield eased half a basis point to 0.385pc, while the 30-year and the 40-year yields gained one basis point each to 0.560pc and 0.580pc, respectively.
US Treasury yields edged down in Asian trading on Thursday, with the key 10-year note yield last trading at 0.708pc, compared to Wednesday's US close of 0.733pc.
Weaker global stocks also created a tailwind for the JGBs, with E-Mini futures for the S&P 500 shedding 0.65pc and Japan's benchmark Nikkei dipping 0.45pc, as spiking coronavirus cases in some US states and China crushed hopes of a quick economic comeback from the pandemic.