September 8, 2017 / 6:03 AM / a year ago

JGBs gain on weaker equities, BOJ buying operation

TOKYO, Sept 8 (Reuters) - Japanese government bond prices gained on Friday, supported by weaker equities and a regular debt-purchasing operation by the Bank of Japan.

The benchmark 10-year JGB yield was down 1.5 basis points at minus 0.005 percent and the 30-year yield dropped 2 basis points to 0.810 percent.

Supporting safe-haven government debt, Japan’s Nikkei was last down 0.7 percent, hurt by the yen’s surge to a 10-month high versus the dollar.

Investors were also cautious towards risky assets ahead of Saturday when North Korea is due to commemorate the country’s foundation.

JGBs also tracked their global counterparts, with U.S. and German bond yields having slid to multi-month lows after the European Central Bank lowered its inflation forecast on Thursday.

The BOJ bought 880 billion yen ($8.17 billion) of one- to 40-year JGBs on Friday as a part of its regular debt-buying operations. ($1 = 107.7700 yen) (Reporting by the Tokyo markets team; Editing by Subhranshu Sahu)

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