TOKYO Feb 8 Superlong Japanese government bonds
edged down on Wednesday, with the 30- and 40-year yields
touching one-year highs, as investors positioned for the
following day's 30-year sale.
The benchmark 10-year JGB yield was flat at 0.095 percent
, while 10-year JGB futures finished up 0.06 point
The benchmark yield inched down from a session high of 0.100
percent after the Bank of Japan bought 450 billion yen ($4.01
billion) of JGBs maturing in more than five to 10 years, after
buying the same amount in that zone on Monday. The central bank
also made two 10-year JGB purchase offers on Friday.
Under its current monetary policy framework of "yield curve
control" that the BOJ unveiled in September, the central bank
aims to guide the 10-year JGB yield to around zero percent.
In a summary of opinions from the BOJ's Jan. 30-31 policy
meeting released on Wednesday, one board member said traders
could start to question the central bank's ability to control
the yield curve during a bout of heightened uncertainty, and
that the BOJ's market operations desk would need more
The BOJ has so far refrained from any steps to stem rising
yields in the superlong zone. Yields have faced upward pressure
as their global counterparts have risen in recent months, and
continued their gradual ascent on Wednesday.
The 30-year yield rose 1 basis point to 0.910 percent
, and the 40-year yield also added 1 basis point
to 1.065 percent, their highest respective levels
since February 2016.
On Thursday, the Ministry of Finance will offer 800 billion
yen of 30-year JGBs.
The 20-year yield was flat at 0.715 percent,
not far from last week's high of 0.730 percent, which was its
highest since February 2016.
($1 = 112.3400 yen)
(Reporting by Tokyo markets team; Editing by Eric Meijer)