February 27, 2020 / 9:18 AM / a month ago

Japan govt bonds mostly firmer, taking cue from U.S. Treasuries

TOKYO, Feb 27 (Reuters) - Japanese government bond prices gained on Thursday, taking cues from domestic stocks and U.S. Treasuries, as more signs of the global spread of the coronavirus heightened fears of a pandemic and sent investors scurrying to safe-haven assets.

Benchmark 10-year JGB futures rose 0.29 point to 153.66, hitting the highest level since Nov. 5.

The yield on benchmark 10-year cash JGBs fell 1.5 basis points (bps) to minus 0.110%.

The five-year yield declined 1.5 bps to minus 0.210%, while the two-year yield fell 1 bp to minus 0.210%.

At the longer end of the market, the 20-year JGB yield fell half a basis point to 0.210%, while the 30-year JGB yield was flat at 0.340%.

Japan’s stock benchmark Nikkei tumbled 2.1% to 4 1/2-month lows on Thursday as investors were spooked by the rapid expansion of the global coronavirus outbreak, with the United States reporting its first possible community spread.

Also in Asian trade, the 10-year U.S. Treasury yield dropped to its all-time low of 1.292% as investors fled to the safety of government debt. (Reporting by Tokyo Markets Team; Editing by Hugh Lawson)

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