TOKYO, March 6 Benchmark Japanese government
bonds edged down slightly on Monday, though the superlong zone
firmed as investors awaited an auction of 30-year JGBs.
The benchmark 10-year JGB yield rose 0.5 basis point (bp) to
0.075 percent, while 10-year JGB futures ended
down 0.01 point at 150.59.
The 20-year yield was down 2 bps at 0.635
percent, and the 30-year JGB yield fell 1.5 bps
to 0.835 percent.
Underpinning JGBs, U.S. Treasury yields edged lower after
North Korea fired four ballistic missiles early on Monday, three
of which landed in Japan's exclusive economic zone.
The safe-haven demand helped push down the yield of
benchmark 10-year U.S. Treasury notes to 2.474
percent in Asian trading, from Friday's U.S. close of 2.492
Last week, the Bank of Japan announced the schedule of its
bond buying operations for March, which had been a source of
In its operations on Friday, the BOJ trimmed its purchases
of 25 to 40 year JGBs to 100 billion yen ($876 million), 20
billion yen less than its previous amount, but the reduction was
in line with expectations and had little impact on market
Bank of Japan Deputy Governor Hiroshi Nakaso on Friday told
a New York economic forum that the current policy framework
offers the flexibility and sustainability to achieve the BOJ's
"strong commitment" to raising inflation to its 2 percent goal.
(Reporting by Tokyo markets team; Editing by Shri Navaratnam)