Japan's Meiji Yasuda: can start buying 10-yr JGBs at 1 pct

TOKYO Fri May 24, 2013 1:00am EDT

TOKYO May 24 (Reuters) - Japan's Meiji Yasuda Life Insurance Co said on Friday it will shift some of the money earmarked for foreign bonds to Japanese government bonds given their rise in yields.

Japan's third-largest private life insurer said it can start buying 10-year Japanese government bonds at 1 percent and 20-year debt at 1.7 percent.

The 10-year yield was traded at 0.825 percent on Friday afternoon, while the longer-dated 20-year yield was at 1.685 percent.