June 15, 2020 / 8:13 AM / 24 days ago

JGBs gain on safe-haven demand as fears of second virus wave grip equities

TOKYO, June 15 (Reuters) - Japanese government bond (JGB) prices advanced broadly on Monday as sharp falls in equities on fears of second coronavirus wave increased the appeal of the safe-haven debt.

Benchmark 10-year JGB futures rose 0.15 point to 152.23, with a trading volume of 12,855 lots

The key 10-year cash JGB yield fell 1 basis point (bp) to 0%. The 20-year yield dropped 1 basis point to 0.360%, while the 30-year yield lost 1.5 basis points to 0.515%.

At the shorter end of the market, the two-year and the five-year yields fell 1 basis point each to minus 0.170% and minus 0.120%, respectively.

On the Tokyo stock exchange, the benchmark Nikkei average tumbled 3.5% on Monday to hit its lowest level since May 27 as investors fled risk assets on concerns about a spike in new cases of COVID-19 worldwide. (Reporting by Tokyo Markets Team; Editing by Aditya Soni)

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