JGBs steady to weaker on U.S. bonds' retreat, profit-taking

Thu May 29, 2014 10:30pm EDT

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TOKYO, May 30 (IFR) - Japanese government bond prices were steady to slightly weaker, with some investors taking profits after the benchmark 10-year yield had hit one-year low the previous day, and as U.S. Treasuries prices retreated.

The cash 10-year yield rose 1.0 basis point to 0.575 percent , off a one-year low of 0.560 percent hit on Thursday following rallies in global bond prices.

Longer maturities fared worse, with the 30-year bond yield rising 1.5 basis point to 1.685 percent, stepping back from a two-month low of 1.660 percent hit on Thursday.

Ten-year JGB futures prices stood flat at 145.50

Markets showed no reaction to a batch of Japanese economic data published on Friday, including consumer inflation numbers in the wake of April's sales tax hike.

Nationwide core CPI rose 3.2 percent, more than the median forecast of 3.1 percent, but Tokyo area core CPI for May, a leading indicator of nationwide trends, fell short of market expectations rising 2.8 percent versus expectations of 2.9 percent.

The 10-year U.S. Treasuries yield hopped back to 2.46 percent from a low near 2.40 percent. (Reporting by Masatsugu Hisatsune; Editing by Eric Meijer)

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