JGBs rise on soft China data, 10-yr yield hits 3-month low
TOKYO, Feb 20 (IFR) - Japanese government bond prices rose on Thursday with the 10-year benchmark yield hitting a three-month low, after soft Chinese manufacturing data reinforced concerns over a slowdown in the world's second-largest economy.
The flash Markit/HSBC Purchasing Managers' Index (PMI) fell to a seven-month low of 48.3 in February from January's final reading of 49.5, where a reading below 50 indicates a contraction while one above shows expansion.
The 10-year JGB futures rose 0.16 point to 145.12 while the 10-year cash bond yield fell 1.5 basis point to 0.585 percent, touching a three-month low of 0.580 percent at one point.
The 20-year yield fell 1.5 basis points to 1.455 percent while the 30-year yield fell by the same margin to 1.630 percent.