JGB futures soar, 10-year yield drops after BOJ eases

TOKYO, April 4 Thu Apr 4, 2013 12:57am EDT

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TOKYO, April 4 (Reuters) - Japanese government bond futures soared on Thursday and the benchmark JGB yield skidded to its lowest in nearly a decade, after the Bank of Japan eased monetary policy.

Ten-year JGB futures rose as high as 145.94, close to their record high of 145.98 hit last week, and were last up 0.46 point at 145.90.

The 10-year yield dropped 6 basis points to 0.490 percent, its lowest since June 2003.

The central bank said it will bring forward the timing of open-ended asset buying and extend the duration of government bonds it buys in its easing program.