October 3, 2019 / 5:25 AM / 20 days ago

JGBs gain as weak U.S. data, trade news feed slowdown concerns

TOKYO, Oct 3 (Reuters) - Japanese government bond (JGB) prices rose on Thursday as weak U.S. data disappointed investors and as Washington opened a new front in its trade dispute with Europe by imposing tariffs, sparking interest for safe-haven debt.

Benchmark 10-year JGB futures rose 0.29 point to 154.92, with a trading volume of 18,167 lots, in late-afternoon trade.

The 10-year cash JGB yield fell 2 basis points to minus 0.190%.

In the super-long zone, the 40-year yield fell 3 basis points to 0.430% and the 30-year yield fell 2.5 basis points to 0.365%, while the 20-year yield was flat at 0.225%.

At the shorter end of the curve, the two-year yield fell 1.5 basis points to minus 0.325% and the five-year yield fell 2 basis points to minus 0.350%.

On Wednesday, data showed hiring by U.S. private employers had cooled in September, the latest indicator that the U.S.-China trade dispute is hurting the world’s largest economy.

Adding to concerns, Washington won approval on Wednesday to levy tariffs on $7.5 billion worth of European goods in retaliation for European Union subsidies on large aircraft, threatening to trigger a transatlantic trade war. (Reporting by the Tokyo Markets Team; Editing by Aditya Soni)

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