February 7, 2018 / 3:28 AM / 5 months ago

JGBs dip as Japan stocks bounce back from heavy sell-off

TOKYO, Feb 7 (Reuters) - Japanese government bond prices dipped on Wednesday as Japanese stocks rebounded after three days of heavy losses and reduced investor demand for safe-haven debt.

The five-year JGB yield rose 1 basis point to 0.080 percent. The benchmark 10-year yield climbed half a basis point to 0.075 percent and the 20-year yield was also half a basis point higher, at 0.585 percent.

JGB losses were curbed as the Bank of Japan conducted a regular debt-buying operation on Wednesday.

The central bank offered to buy 1.03 trillion yen ($9.42 billion) of one- to 10-year JGBs at Wednesday’s purchasing operation.

Japanese stocks recovered sharply on Wednesday after crumbling to their biggest percentage fall in 15 months the previous day, with all sectors in the black as Wall Street pulled ahead following a punishing sell-off in the preceding days.

$1 = 109.3500 yen Reporting by the Tokyo markets team; Editing by Jacqueline Wong

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