TOKYO, Dec 19 (IFR) - Japanese government bond prices ended
Thursday's morning session marginally mixed, with the superlong
30- and 40-year yields down on the back of buying by overseas
life insurers ahead of the massive quarterly JGB redemption set
JGBs opened weaker after the Federal Reserve began to scale
back its massive stimulus, signalling that the U.S. economy is
on the mend.
But the longer-maturities turned firmer on the back of
buying by overseas life insurance companies, according to JGB
The 30-year yield was down 1 basis point at
1.670 percent after earlier rising to 1.700 percent.
The 10-year yield added 0.5 basis point to
0.660 percent, while the 20-year yield was up 1
basis point at 1.530 percent.
Ten-year JGB futures added 2 ticks to 144.15.
Traders said several pension funds were expected to buy 10-
and 20-year JGBs after lunch, depending on the auction results
of the 300 billion yen ($2.9 billion) worth off-the-run 10- and
Market participants expected the Bank of Japan would stand
pat at its two-day policy meeting concluding on Friday,
encouraged by an upbeat business sentiment survey that added to
signs the benefits of its massive stimulus are spreading through
broader sectors of the economy.