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JGBs Gain on Imminent COVID19 State of Emergency in Tokyo

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TOKYO, Jan 5 Reuters Japanese government bonds JGBs gained on Tuesday as an imminent tightening of social restrictions to curb the spread of COVID19 underpinned the allure of lowrisk government bonds.

Benchmark 10year JGB futures rose 0.15 point to 152.03, the biggest gain in almost two months.

Still, buying slowed in late trade ahead of Wednesdays auction of 10year JGBs, the first bond sale by the Ministry of Finance this year.

Japans Chief Cabinet Secretary Katsunobu Kato told a news conference the government is working toward a decision on a state of emergency in Tokyo and the surrounding areas on Thursday.

The 10year JGB yield fell 1 basis point to 0.010 while the 20year yield dropped as much to 0.390.

The yield on 30year JGBs fell 1 basis point to 0.640.

The shorter end of the market was also firm, with the twoyear yield falling 0.5 basis point to minus 0.130 and the fiveyear yield dipping 1 basis point to minus 0.120.

Reporting by Tokyo Markets Team; editing by Uttaresh.V

Source Reuters

 

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