TOKYO, April 27 Japanese government bond prices
were mostly steady on Thursday, underpinned by stronger U.S.
Treasuries, and were given some breathing space as Tokyo stocks
pulled back from a four-week high.
JGBs took in stride a decision by the Bank of Japan to stand
pat on monetary policy on Thursday following its two-day
meeting, as the outcome was well anticipated.
The central bank kept its yield target for the 10-year JGB
around zero percent. It offered a more upbeat view on the
Japanese economy but slightly cut its inflation forecast for the
current fiscal year, suggesting that it will maintain its
massive monetary stimulus for the time being to achieve its
ambitious 2 percent target.
The 10-year JGB yield remained unchanged at 0.015 percent
and the 20-year yield was also
flat at 0.570 percent.
Treasury prices rose on Wednesday, reversing steep losses
sustained the last few sessions, as President Donald Trump
unveiled a tax reform plan that largely underwhelmed the market.
(Reporting by the Tokyo markets team; Editing by Sherry