Thursday, October 28

Japan’s 10-year bond yields follow US lower, China concerns weigh

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TOKYO — Japan’s benchmark 10-year government bond yields fell on Monday, tracking US Treasuries yields lower, while weak Japanese equities boosted demand for safe-haven debt.

The 10-year JGB yield fell 0.5 basis points to 0.045%, while benchmark 10-year JGB futures rose 0.04 point to 151.61.

The yield on 10-year US Treasuries fell at the end of last week’s trade despite positive economic data that showed US consumer spending increased more than expected in August as traders adjusted positions.

On Monday, Japanese shares fell for a sixth straight session as worries over the China Evergrande debt crisis outweighed positive cues from a strong finish to the week on Wall Street.

The 20-year JGB yield was unchanged at 0.425%, while the 30-year JGB yield gained one basis points to 0.665%.

The 40-year JGB yield also rose one basis points to 0.75%.

The two-year JGBs were untraded and its yield remained at minus 0.124%, while the five-year yield was unchanged at minus 0.1%. (Reporting by Tokyo markets team; editing by Barbara Lewis)

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