February 15, 2018 / 6:35 AM / 5 days ago

JGBs steady as BOJ shields market from rising global yields

TOKYO, Feb 15 (Reuters) - Japanese government bond prices were little changed on Thursday, as tight supplies due to the central bank’s massive bond purchase helped offset some of the negative impact from rising bond yields.

The 10-year JGB yield stood flat at 0.060 percent , the low end of its range in the past month. The price of the benchmark 10-year JGB futures gained 0.05 point to 150.68.

The market was supported by Bank of Japan’s bond-buying programme as it purchased more than 7 trillion yen ($65.8 billion) of JGBs every month.

The BOJ bought a total of 1.03 trillion yen JGBs on Thursday, maintaining the amount of its purchase in three categories based on maturity, over one- to three-years, three- to five-years and five- to 10-years.

Its buying in 5-10 year bonds attracted selling of 1.3328 trillion yen, less than two previous operations in the same maturities, highlighting limited selling interests.

The 20-year yield was flat at 0.560 percent, while the 30-year yield ticked up 0.5 basis point to 0.790 percent, after hitting a three-month low of 0.785 percent on Wednesday.

The five-year yield was steady at minus 0.095 percent .

$1 = 106.46 yen Reporting by Tokyo Markets Team; Editing by Sherry Jacob-Phillips

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