TOKYO: The yield on the 5-year Japanese government bond slipped to its lowest level since October 2010 on Tuesday, as investors bet the Bank of Japan would take further easing steps this week and extend the duration of bonds it purchases.

At its meeting on Friday, the central bank is expected to expand the size of its asset purchase programme, under which it now buys bonds with up to two years left to maturity.

The 5-year yield fell half a basis point to 0.260 percent.

The yield on the latest 10-year JGBs fell half a basis point to 0.910 percent, which was also its lowest level since October 2010.