April 5, 2013 / 12:00 AM / in 4 years

Benchmark JGB yield hits record low on BOJ's dramatic easing

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TOKYO, April 5 (Reuters) - The benchmark Japanese government bond yield fell to a new record low and 10-year futures hit a record high on Friday, a day after the Bank of Japan's sweeping monetary expansion campaign was announced.

The 10-year yield dropped 9.5 basis points to a record low of 0.340 percent.

Yield on the 20-year JGB fell below 1.0 percent to 0.995 percent, lowest since June 2003.

Ten-year JGB futures added 0.35 point to 146.36 after rising as high as 146.41.

The BOJ on Thursday committed to open-ended asset buying and doubling the monetary base to 270 trillion yen ($2.9 trillion) by the end of 2014.

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