June 23, 2020 / 8:11 AM / 2 months ago

Super-long JGB yields rise, 40-year at 14-month peak

June 23 (Reuters) - The yields on super-long Japanese government bonds (JGB) climbed on Tuesday, with the longest 40-year yield hitting its highest in more than a year.

Super-long JGB yields have risen steadily in the past couple of weeks, especially since Bank of Japan Governor Haruhiko Kuroda said after the central bank’s meeting on June 16 he did not think super-long yields had risen much, compared with those of global peers.

The 40-year cash debt yield rose one basis point to 0.600%, a level unseen since April 26, 2019.

The 30-year bond yield also advanced one basis point to 0.575% and the 20-year yield added half a basis point to 0.390%.

Elsewhere, the market was barely changed. The key 10-year cash bond yield was steady at 0.005%, while the five-year stood flat at minus 0.115%.

Benchmark 10-year JGB futures rose 0.04 point to 152.17, with a trading volume of 13,519 lots.

Reporting by Tokyo Markets Team; Editing by Jacqueline Wong

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