February 16, 2018 / 3:41 AM / a year ago

JGBs edge higher, govt reappoints Kuroda as BOJ chief

TOKYO, Feb 16 (Reuters) - Japanese government bond prices edged higher on Friday following an overnight bounce by U.S. Treasuries, although gains were limited as the Nikkei rallied for the second day.

The trading session was highlighted by the government’s reappointment of Haruhiko Kuroda as Bank of Japan governor, a widely expected decision.

The 10-year JGB yield dipped 0.5 basis point to 0.055 percent and the 40-year yield fell 1 basis point to 0.915 percent.

Along with Kuroda, the government also chose Masazumi Wakatabe, an academic and advocate of bolder monetary easing as one of his deputies - a sign the central bank will be in no rush to dial back its massive stimulus programme.

U.S. Treasury prices rose on Thursday after sizable losses in recent sessions, as investors took a breather from selling bonds that took the 10-year yield to four-year peaks earlier this week. (Reporting by the Tokyo markets team Editing by Shri Navaratnam)

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