January 31, 2019 / 6:05 AM / 3 months ago

JGBs gain tracking U.S. Treasuries after Fed holds rates

TOKYO, Jan 31 (Reuters) - Japanese government bond (JGB) prices firmed on Thursday, tracking a rise in U.S. Treasuries after the Federal Reserve held interest rates steady overnight.

Benchmark 10-year JGB futures edged up 0.04 point to 152.68, with a trading volume of 23,931 lots.

The 10-year JGB yield was flat at zero percent, while the two-year yield was 1 basis point lower at minus 0.170 percent.

The super-long sector followed suit, with the 20-year , the 30-year and the 40-year yields falling 1 basis point each to 0.445 percent, 0.645 percent and 0.735 percent, respectively.

The market was also supported by Thursday’s auction of two-year debt, which attracted strong investor demand.

The auction drew bids 6.07 times the amount offered, the highest since the June 2017 auction.

U.S. Treasury yields fell on Wednesday after the U.S. central bank refrained from raising rates and said it would be patient in lifting borrowing costs further this year as it pointed to growing uncertainty about the U.S. economic outlook. (Reporting by Tokyo Markets team; Editing by Subhranshu Sahu)

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