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JGBs Rise on SafeHarbour Flows, Strong Auction Demand

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TOKYO, March 24 Reuters Japanese government bond futures and prices on cash bonds rose on Wednesday as concerns over restrictions on economic activity in France and Germany increased the appeal of holding safeharbour assets.

Investors shifted money out of equities and into bonds as risk appetite was dampened.

An auction of sixmonth bills earlier on Wednesday drew strong demand, which traders cited as a supportive factor for bond prices.

Benchmark 10year JGB futures rose 0.17 point to 151.43, with a trading volume of 12,373 lots.

The 10year JGB yield fell 1 basis point to 0.065. The 20year JGB yield fell 1.5 basis points to 0.430.

The 30year JGB yield fell 0.5 basis point to 0.615.

At the long end of the yield curve, the 40year JGB yield fell 1.5 basis points to 0.655.

Japans finance ministry will auction 40year bonds on Thursday, which will be an important test of investor demand for bonds with long durations.

The fiveyear yield fell 1 basis point to minus 0.105, but the twoyear JGB yield was unchanged at minus 0.140.

Reporting by the Tokyo markets team; Editing by Amy Caren Daniel

Source Reuters

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