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JGB Yields Rise after Surge in U.S. 10Year Treasury Yields

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TOKYO, Feb 8 Reuters Japanese government bond yields rose on Monday, after U.S. 10year Treasury yields soared to their highest level in nearly a year as softerthanexpected U.S. jobs data strengthened expectations of more stimulus spending from Washington.

The auction for 10year, inflationlinked Japanese bonds on Monday received slightly lower demand from last time, failing to boost the market. The tenders were 3.07 times oversubscribed, compared with 3.31 times in November.

The 10year JGB yield rose 0.5 basis point to 0.060, while the 20year JGB yield rose 0.5 basis point to 0.450.

The 30year JGB yield jumped 1.5 basis points to 0.665.

The twoyear JGB yield rose 0.5 basis point to minus 0.130 and the fiveyear yield rose one basis point to minus 0.100.

The 40year JGB yield rose one basis point to 0.705.

Benchmark 10year JGB futures fell 0.14 point to 151.5, with a trading volume of 20,914 lots.

U.S. bonds extended losses further in Asia on Monday, with the benchmark 10year yields rising as much as 1.189, its highest since March.

Reporting by Tokyo markets team; Editing by Devika Syamnath

Source Reuters

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