December 27, 2019 / 7:08 AM / 24 days ago

JGBs rangebound in subdued trade ahead of New Year holidays

TOKYO, Dec 27 (Reuters) - Japanese government bond prices moved in a narrow range on Friday, with many market players retreating to the sidelines ahead of the New Year holidays.

Benchmark 10-year JGB futures fell 0.09 point to 152.06, with a low trading volume of 14,289 lots.

Many market players were away ahead of market holidays from Tuesday to Friday next week while planned auction of 10-year JGBs and 30-year bonds in the following week kept traders cautious, traders said.

The 10-year JGB yield rose 0.5 basis point to minus 0.015% but still off nine-month high of plus 0.010% touched on Dec. 20.

After dropping to as low as minus 0.295% in early September on U.S.-China trade tensions, the yield has steadily risen to end the year almost flat.

The 20-year JGB yield fell 0.5 basis point to 0.290% while the benchmark 30-year yield dipped 0.5 basis point to 0.430%.

The short end of the market was firmer, with the two-year JGB yield falling 1 basis point to minus 0.130%.

The five-year yield was flat at minus 0.120%.

Short maturities drew mild support from firmness in U.S. Treasuries on Thursday after solid auction of seven-year notes.

Reporting by Tokyo Markets Team; Editing by Rashmi Aich

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