TOKYO, Aug 28 (Reuters) - Japanese government bond (JGB) prices ticked up on Wednesday, with 30- and 40-year bond yields hitting three-year lows, on concerns about global economy amid intensifying U.S.-China trade tension.
“Since global bond yields did not rise, there is no reason Japanese rates should rise. With the risk-off sentiment nowhere near to dissolving, bond yields continue to stay under pressure,” said Ryosuke Matsuzaki, market analyst at Mizuho Securities.
Benchmark 10-year JGB futures rose 0.03 point to 155.17.
The 10-year JGB yield fell 0.5 basis point to minus 0.275%, not far from its record low of minus 0.300% touched in 2016, while the 20-year yield dropped 0.5 basis point to 0.060%.
The yield on the benchmark 30-year JGBs fell as much as 3.5 basis points to 0.135 %, a three-year low, before retreating on profit-taking to 0.165%, up 0.5 basis point on the day.
The 40-year yield fell to as low as 0.155% before stepping back up to 0.175%, down 0.5 basis point on the day.
The two-year JGB yield fell 0.5 basis point to minus 0.310%. (Reporting by Tokyo Markets Team; editing by Uttaresh.V)