January 4, 2019 / 4:03 AM / 8 months ago

JGB yields hit lowest since late 2016 amid risk aversion in broader markets

TOKYO, Jan 4 (Reuters) - Japanese government bond yields fell to their lowest levels since late 2016 on Friday as risk aversion gripped the broader markets and boosted investor demand for safe-haven debt.

The five-year yield was 3 basis points lower at minus 0.185 percent after brushing minus 0.190 percent, its lowest since November 2016.

The 10-year yield was last down 3.5 basis points at minus 0.040 percent after touching 0.050 percent, a low not seen since November 2016.

The 30-year yield was down 5 basis points at 0.655 percent after hitting 0.650 percent, its lowest since December 2016.

Weighed down by a slide in global equities, the Nikkei share average was down 2.8 percent after losing as much as 3.86 percent, as investors digested bearish news since the start of the year including signs of slowdown in the U.S. and Chinese economies.

Japanese markets opened for the first time in 2019 on Friday after being shut for the New Year holidays.

March 10-year JGB futures were up 0.31 point at 152.79 after hitting 152.99, their highest since August 2016. The futures erased some of the gains as Tokyo stocks cut losses. (Reporting by the Tokyo markets team; Editing by Subhranshu Sahu)

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