August 6, 2019 / 4:08 AM / in 19 days

JGB long-dated yields rise as China stems decline in yuan

TOKYO, Aug 6 (Reuters) - Japanese government bond yields rose at the long end of the curve on Tuesday after China took steps to curb declines in its currency, which reduced demand for safe-haven assets.

The U.S. government on Monday labelled China a currency manipulator, an unexpected escalation in a trade war between the world’s two-largest economies.

Benchmark 10-year JGB futures were little changed, up 0.03 point to 154.24, with a trading volume of 28,059 lots.

The 10-year JGB yield rose 0.5 basis point to minus 0.195%.

The 30-year JGB yield rose 0.5 basis point to 0.290%.

At the short end of the curve, the two-year JGB yield fell 1 basis point to minus 0.230%, while the five-year JGB yield fell 0.5 basis point to minus 0.285%. (Reporting by the Tokyo Markets Team; Editing by Shounak Dasgupta)

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