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JGBs retreat as Tokyo stocks advance to near 2-year high
June 2, 2017 / 4:16 AM / 6 months ago

JGBs retreat as Tokyo stocks advance to near 2-year high

TOKYO, June 2 (Reuters) - Japanese government bond prices fell on Friday as Tokyo stocks rose to a near two-year high and diminished the appeal of safe-haven debt.

The benchmark 10-year JGB yield was up half a basis point at 0.055 percent, its highest since April 10. The 30-year yield also rose half a basis point, to 0.815 percent.

The JGB market showed little reaction after the Bank of Japan increased its purchases of debt with maturity of less than one year to 100 billion yen ($895 million) at its regular bond-buying operation, from 70 billion yen at the previous operation. Dealers said the increase was taken in stride as it was well anticipated.

Overall market movements were limited as a wait-and-see mood prevailed ahead of the closely-watched U.S. non-farm payrolls report due later on Friday.

Japan’s Nikkei rose above the 20,000 threshold and reached a 22-month peak on Friday after Wall Street set record highs.

$1 = 111.6100 yen Reporting by the Tokyo markets team; Editing by Jacqueline Wong

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