Financial markets in Japan will be closed from Wednesday, Dec. 31, to Friday, Jan. 2, and will resume trading on Monday, Jan. 5. March 10-year JGB futures fell 0.07 point to 147.70.
The benchmark 10-year JGB yield rose 1.5 basis points to 0.335 percent but was still near a record low of 0.300 percent struck on Friday.
Bonds had gained earlier in the session, in line with a rise in prices of other government debt markets generated by political uncertainty in Greece.
US Treasuries and German bunds rose overnight on safety buying after the Greek parliament on Monday rejected the prime minister's presidential candidate, setting the stage for an election that the left-wing Syriza party, which opposes an EU/IMF bailout, could win.
The German 10-year bund yield fell to a record low overnight. Dutch, French, Austrian, Finnish and Irish yields also hit record troughs.
The Greek political situation also sapped risk appetite and drove Tokyo stocks lower, limiting losses in JGBs, although trade was thin as many participants have already closed their books before year-end.