November 19, 2019 / 5:20 AM / a month ago

JGBs inch higher as doubts over U.S.-China trade deal resurface

TOKYO, Nov 19 (Reuters) - Japanese government bond prices edged a tick higher on Tuesday as a lack of clarity on the progress in the U.S-China trade negotiations discouraged investors from taking large bets.

Benchmark 10-year JGB futures rose 0.04 point to 153.29, with a trading volume of 15,601 lots by late-afternoon trade.

The key 10-year cash JGB yield fell half-a-basis point to minus 0.095%.

The 20-year and the 40-year yields also dropped 0.5 basis point each to 0.280% and 0.470%, respectively, while the 30-year yield stood flat at 0.440%.

The five-year yield retreated half-a-basis point to minus 0.205%.

Overnight, CNBC reported the mood in Beijing was pessimistic about the prospects of sealing a phase-one deal with Washington.

On the other hand, a new extension allowing U.S. companies to continue doing business with Chinese telecoms giant Huawei Technologies Co Ltd suggested something of an olive branch.

Reporting by Tokyo Markets Team; Editing by Sherry Jacob-Phillips

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