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Shorter-dated JGBs follow Treasuries lower, super-longs firmer
March 29, 2017 / 3:28 AM / in 8 months

Shorter-dated JGBs follow Treasuries lower, super-longs firmer

TOKYO, March 29 (Reuters) - Shorter-dated Japanese government bond prices slipped on Wednesday as the market took cues from an overnight retreat by U.S. Treasuries, while the longer-dated maturities gained on month-end investor demand.

The five-year yield rose 1 basis point to minus 0.145 percent and the benchmark 10-year yield climbed 0.5 basis point to 0.060 percent.

The 30-year yield, on the other hand, declined 1 basis point to 0.815 percent. Super-long JGBs tend to attract demand at the turn of each month, helped by index-following investors reshuffling their bond portfolios.

JGBs took in stride Wednesday’s regular debt-purchasing operation by the Bank of Japan, at which the central bank trimmed the purchase of three- to five-year bonds to 380 billion yen from 400 billion yen previously.

The BOJ has been tweaking the amount of JGBs it buys at its operations in an effort to reduce market volatility, which worsened as the central bank purchased large amounts of debt under its easing programme.

U.S. Treasury debt prices fell on Tuesday, hurt by a jump in stocks after U.S. consumer confidence surged to a 16-year high. (Reporting by the Tokyo markets team; Editing by Amrutha Gayathri)

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