August 27, 2018 / 6:53 AM / a year ago

JGBs supported by firmer Treasuries, advancing stocks limit gains

TOKYO, Aug 27 (Reuters) - Japanese government bond prices were steady to slightly higher on Monday, supported by firmer U.S. Treasuries following Federal Reserve Chair Jerome Powell’s comments on monetary policy.

The advance by JGBs was limited as Tokyo shares tracked Wall Street higher, curbing investor demand for safe-haven debt. The Nikkei ended at a 10-week high on Monday.

The five-year JGB yield and the benchmark 10-year yield were unchanged at minus 0.080 percent and 0.095 percent , respectively.

The 20-year yield dipped half a basis point to 0.605 percent and the 30-year yield declined 1 basis point to 0.825 percent.

Powell said on Friday the Fed would continue to increase interest rates at a gradual pace.

The Treasury yield curve flattened on the back of Powell’s comments, with yields on longer-dated Treasuries falling more than those on shorter-dated ones. (Reporting by the Tokyo markets team; Editing by Gopakumar Warrier)

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