TOKYO, Aug 8 (IFR) - JGB prices rose on Friday, sending the benchmark 10-year yield to a 16-month low on escalating geopolitical tensions over Russia and the Middle East.
The current 10-year JGB yield fell 1.5 basis point to 0.510 percent, its lowest since April last year. The September JGB futures rose 0.19 point to 146.14.
Several regional banks sold mid- to long-term JGBs to take profits, according to JGB traders.
Market players widely expect the Bank of Japan to maintain its current monetary policy this month without further easing steps at its policy meeting ending later in the day. The market has set its focus on the press conference by Governor Haruhiko Kuroda at 0630 GMT. (Reporting by Masatsugu Hisatsune; Editing by Jacqueline Wong)