TOKYO, Jan 14 (IFR) - Japanese government bond prices rose
sharply on Tuesday, with the benchmark 10-year yield slipping to
a four-week low, after a weaker-than-expected U.S. payroll data
boosted U.S. Treasuries.
The 10-year yield dropped 3.0 basis points to 0.665 percent
, its lowest since Dec. 19, having fallen
substantially from a three-month high of 0.740 percent hit in
Japanese markets were closed on Monday for a public holiday,
making the Tuesday session the first chance to react to last
Friday's U.S. jobs data, which showed U.S. added only 74,000
workers in December, far short of the 196,000 rise forecast by
The subsequent falls in U.S. bond yields prompted JGB
traders to cover their short positions on Tuesday.
Still, many domestic real money accounts did not chase
higher prices for now, market players said.
The current 5-year JGB yield fell 1.0 basis point from last
Friday to 0.200 percent while the 20-year yield
fell 2.5 basis points to 1.505 percent.
The benchmark March 10-year JGB futures gained 0.33 in price