JGBs inch up after Treasuries gain on weak jobs data
TOKYO, Feb 10 (IFR) - Japanese government bond prices inched up on Monday, buoyed after a weaker-than-expected jobs report lifted U.S. Treasuries.
The benchmark 10-year JGB yield dipped 0.5 basis point to 0.610 percent in midmorning trading. Lead March 10-year JGB futures rose 0.10 point to 144.80 at the end of midmorning trade.
U.S. Treasuries prices rose on Friday after the release of data showing employers hired fewer workers than expected in January, suggesting a loss of momentum in the economy at the same time as the Federal Reserve pares its bond purchase program.
Gains by Tokyo's Nikkei stock average had a limited impact on JGBs, traders said, with a regular government bond-purchasing operation by the Bank of Japan helping to cushion the rise in equities.
JGB market players said an upcoming holiday on Tuesday, during which the Tokyo financial markets will be closed, limited overall bond market activity.
At midday, the yield on two-year JGBs was down 0.5 basis point at 0.070 percent, while the 20-year JGB yield was up 1 basis point at 1.465 percent.
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