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JGBs edge up as Nikkei fall gives market some breathing room
May 12, 2017 / 4:22 AM / in 5 months

JGBs edge up as Nikkei fall gives market some breathing room

TOKYO, May 12 (Reuters) - Japanese government bond prices edged up on Friday as a slide in Tokyo stocks provided the bond market some breathing room after several days of losses.

June 10-year JGB futures rose 0.10 point to 150.68, on track to end five straight days of losses.

The futures had declined to a one-month low of 150.51 on Thursday, as safe-haven government debt felt the pressure from an improvement in investor risk appetite this week thanks to an ebb in geopolitical concerns and the yen’s depreciation.

The Nikkei advanced to a 17-month high on Thursday on improving risk sentiment before dropping 0.6 percent on Friday due as investors took profits.

In addition to Friday’s dip in the equity market, JGBs also drew support from a regular debt-purchasing operation conducted by the Bank of Japan.

The central bank bought a total of 750 billion yen ($6.60 billion) of JGBs on Friday in medium to long maturities.

The 20-year JGB yield fell half a basis point to 0.600 percent, pulled back from a one-month high of 0.610 percent touched on Thursday.

$1 = 113.7100 yen Reporting by the Tokyo markets team; Editing by Eric Meijer

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