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JGBs little changed as weaker stocks offset higher Treasury yields
February 13, 2014 / 3:10 AM / 4 years ago

JGBs little changed as weaker stocks offset higher Treasury yields

TOKYO, Feb 13 (IFR) - Japanese government bond prices were little changed on Thursday as a fall in Tokyo stocks helped offset losses by U.S. Treasuries.

The benchmark 10-year JGB yield edged up 0.5 basis point to 0.610 percent in midmorning trading. Lead March 10-year JGB futures were up 0.05 point at 144.84 at midday.

JGB prices initially tracked losses in U.S. Treasuries. Treasury yields hit multiweek highs after the U.S. House of Representatives passed a measure on the debt ceiling and new Federal Reserve chair Janet Yellen vowed to maintain the bank’s current strategy of reducing asset purchases at a gradual pace.

But JGBs eventually pared losses as the Nikkei stock average lost its footing and shed 1 percent ahead of key U.S. data releases later in the day.

The 20-year and 30-year JGB yields stood unchanged at 1.470 percent and 1.645 percent, respectively.

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