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JGB Yields Rise after BOJ Reduces Debt Purchases

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TOKYO, April 1 Reuters Yields on Japanese government bonds rose on Thursday after the Bank of Japan BOJ said it will reduce the amount and frequency at which it buys debt, reflecting monetary policy changes made last month.

The BOJs buying of conventional JGBs will fall by about 9 to 5.9 trillion yen 53.32 billion in April from 6.45 trillion yen in March, the central bank said in a statement on Wednesday.

At its previous policy meeting in March the BOJ decided to slightly widen the trading band for longterm bonds as part of a review of its quantitative easing framework.

Benchmark 10year JGB futures fell 0.14 point to 151.02, with a trading volume of 21,748 lots.

The 10year JGB yield rose 1 basis point to 0.100. The 20year JGB yield rose 2 basis points to 0.495.

At the long end of the yield curve, the 30year JGB yield rose 2.5 basis points to 0.690. The 40year JGB yield rose 2.5 basis points to 0.735.

The fiveyear yield rose 1 basis point to minus 0.085.

At the short end, the twoyear JGB yield was unchanged at minus 0.130.

1 110.6500 yen

Reporting by the Tokyo markets team; Editing by Shailesh Kuber

Source Reuters

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