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JGBs mostly gain as coronavirus cases surge

TOKYO, Nov 13 (Reuters) - Japanese government bond (JGB) prices mostly rose on Friday, in line with overnight U.S. Treasuries, as resurging new cases of the novel coronavirus weighed on risk sentiment.

Benchmark 10-year JGB futures rose 0.14 point to 152.14, with a trading volume of 14,899 lots, while the 10-year JGB yield inched down half a basis point to 0.020%.

In the super-long zone, the 20-year JGB yield fell 1 basis point to 0.395%, while the 30-year JGB yield lost half a basis point to 0.645%.

At the shorter end of the curve, the two-year JGB yield stood flat at minus 0.145%, while the five-year yield fell 1 basis point to minus 0.115%.

U.S. Treasury yields sank on Thursday as the country’s COVID-19 infections surged above 100,000 for an eighth consecutive day.

Japan reported a record high of 1,634 new cases on Thursday, a Japanese broadcaster said.

A weaker local equity market also increased the appeal of the safe-haven debt. Japan’s Nikkei share average snapped its eight-session winning run and was last 0.7% lower on virus concerns. (Reporting by Tokyo markets team; editing by Uttaresh.V)

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