JGBs inch down on firmer stocks, quiet ahead of fiscal year end

Mon Mar 24, 2014 2:46am EDT

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TOKYO, March 24 (IFR) - Japanese government bond prices fell on Monday, taking cues from gains in share prices, but most domestic real money accounts were sidelined ahead of their book closings at the end of March.

The 10-year JGB yield rose 0.5 basis point to 0.605 percent , while the 20-year JGB yield rose 1.0 basis point to 1.475 percent. The 30-year yield rose 2.5 basis points to 1.695 percent.

Some domestic market players are taking profits in cash bonds ahead of their financial year end on March 31.

The 10-year JGB futures ticked down 0.10 point 144.96.

The market showed no response to comments by Bank of Japan deputy governor Kikuo Iwata, who said the BOJ's 2 percent inflation target does not need to be met strictly in two years. (Reporting by Masatsugu Hisatsune; Editing by Kim Coghill)

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