June 8, 2020 / 7:16 AM / a month ago

Super-long JGBs edge down as U.S. jobs data fuels recovery hopes

TOKYO, June 8 (Reuters) - Longer-dated Japanese government bond prices fell on Monday as Tokyo stocks and U.S. Treasury yields jumped after data showed the U.S. economy unexpectedly added jobs in May, fuelling hopes for a quicker global economic recovery.

Benchmark 10-year JGB futures closed up 0.09 point at 151.65, after rising as high as 151.74, with a trading volume of 23,306 lots. Meanwhile, the 10-year JGB yield stood flat at 0.040%.

The 20-year JGB yield edged up half a basis point to 0.400%. The 30-year JGB yield hit the highest level since April 2019, gaining 1 basis point to 0.570%.

Maturities at the shorter end of the market were unchanged, with the two-year JGB yield at minus 0.155% and the five-year yield at minus 0.090%.

On the Tokyo stock market, the benchmark Nikkei average advanced to its highest closing level since Feb. 21, after the U.S. employment report showed nonfarm payrolls rose by 2.509 million jobs last month.

The jobs data also led to sharp gains in U.S. treasury yields on Friday, with the benchmark 10-year yield rising to as high as 0.959%, a level not seen since mid-March. (Reporting by Eimi Yamamitsu; Editing by Aditya Soni)

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