2 Min Read
TOKYO, May 7 (IFR) - Japanese government bond prices were little changed on Wednesday after a long weekend, showing muted reaction to a fall in Japanese share prices as investors still hesitate to chase them higher beyond current levels.
The 10-year JGB futures rose 0.03 point to 145.12 while the yield on the current 10-year cash bonds stood flat at 0.605 percent, off a six-week low of 0.595 percent briefly touched last month.
Investors hesitated to buy, disappointed that a strong U.S. employment data last week did not cause a spike in yields they had long waited for. Investors have been reluctant to buy 10-year paper at yields below 0.6 percent.
Super-long maturities fared slightly better, with the 30-year yield dipping 0.5 basis point to 1.700 percent , as 30-year paper looked relatively inexpensive.
The 10- and 30-year yield spread stood near the highest level in over a year.
Japanese shares prices tumbled, with the Nikkei average falling 2.4 percent on rise in the yen and worries over developments in Ukraine. (Reporting by Masatsugu Hisatsune; Editing by Kim Coghill)