JGBs extend losses, futures down half a point

TOKYO, April 24 (Reuters) - Japanese government bond futures extended losses on Thursday and hit a two-month low, with more investors bailing out of safe-haven positions as the Bank of Japan is no longer expected to cut interest rates.

June 10-year futures 2JGBv1 fell as much 0.50 point to 137.35, the lowest since late February. Some dealers also sold futures to hedge before a two-year bond auction, which was in line with expectations.

The five-year yield <JP5YTN=JBTC> jumped 3.5 basis points to 1.010 percent, a four-month high and up 8 basis points this week. (Reporting by Eric Burroughs)