JGBs slip after Turkey's rate hikes boost risk appetite

Wed Jan 29, 2014 12:10am EST

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TOKYO, Jan 29 (IFR) - Japanese government bond prices dropped on Wednesday after Turkey's central bank raised interest rates by more than expected to defend the crumbling lira, boosting risk appetite.

Trade was thin, however, with even active regional banks showing little interest in buying JGBs at current levels, ahead of the U.S. Federal Reserve's policy meeting later in the day.

The benchmark 10-year JGB yield rose 1.5 basis points to 0.640 percent and the five-year yield rose 1.0 basis point to 0.200 percent.

The 10-year JGB futures fell 0.17 point to 144.49.

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