JGBs follow Treasuries higher, GDP growth revised down
TOKYO, Sept 11 |
TOKYO, Sept 11 (Reuters) - Japanese government bonds gained on Friday, lifted by a surge in U.S. Treasuries and as revised gross domestic data showed that Japan's economy may have crawled out of recession but still stood on shaky ground.
* Revised data showed Japan's GDP grew 0.6 percent in April-June from the previous quarter, against a median market forecast for a 0.9 percent expansion. It translated into annualised growth of 2.3 percent, down from an initial reading of 3.7 percent. [ID:nT280647] The economy pulled out of a full year of sharp contraction during the quarter. [ID:nT280647]
* December 10-year JGB futures 2JGBv1 gained 0.26 point to 139.19. The benchmark 10-year yield JP10YTN=JBTC fell 1 basis point to 1.310 percent.
* Tokyo's Nikkei average .N225 lost 0.6 percent to support JGBs, hurt as the yen hovered near seven-month highs against the dollar JPY=. [.T]
* U.S. Treasuries rallied on Thursday after a robust 30-year bond auction. [US/] (Reporting by Shinichi Saoshiro; Editing by Michael Watson)
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