TOKYO May 2 Japanese government bond prices
followed a slide by U.S. Treasuries and dipped on Tuesday, with
caution ahead of the week's key events limiting overall
The 20-year JGB yield and the 30-year yield
both rose half a basis point to 0.560 percent and
0.790 percent, respectively.
Super-long JGB yields nudged up after the U.S. Treasury
yield curve steepened overnight, with the 30-year U.S. long bond
yield spiking to a three-week high, after U.S. Treasury
Secretary Steven Mnuchin reiterated his support for ultra
long-term debt issuance.
Low liquidity constrained JGBs, with investors not inclined
to move very much with Tokyo markets closed for three days from
Wednesday for the Golden Week holidays.
Key events due to occur while the Tokyo markets are closed
include the U.S. Federal Reserve's monetary policy decision on
Wednesday, a series of U.S. data releases leading up to Friday's
non-farm payrolls report, and the second round of the French
presidential election at the weekend.
The benchmark 10-year JGB was untraded,
reflecting the prevailing wait-and-see mood.
(Reporting by the Tokyo markets team)