TOKYO, March 15 (Reuters) - Japanese government bonds were steady to slightly weaker on Friday after recent rallies, showing little reaction to the Bank of Japan’s decision to cut its economic assessment while maintaining its policy on hold.
Although investors’ buying at the end of the Japanese financial year on March 31 has undperpinned the market, its advance was stemmed by a retreat in U.S. bonds and a firmer tone in the stock market.
Some market players expect BOJ Governor Haruhiko Kuroda to make a stronger show of the central bank’s readiness to ease policy further at his news conference at 0630 GMT.
Still, any such lip services are unlikely to have a meaningful impact on the bond market, given that the BOJ has been gradually reducing its bond buying in reality due to fears of causing a shortage of bonds for investors.
Ten-year JGB futures fell 0.04 point to 152.80.
The 10-year JGB yield rose 0.5 basis point to minus 0.040 percent.
The 20-year JGB yield rose 0.5 basis point to 0.395 percent, having hit a two-year low of 0.385 percent the previous day.
The 30-year JGB yield rose 0.5 basis point to 0.570 percent, off Thursday’s low of 0.560 percent, its lowest level since late 2016. (Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu)