TOKYO, May 11 (Reuters) - Japanese government bond prices dipped on Monday, with the benchmark 10-year yield rising into positive territory for the first time in more than two weeks, as hopes of re-openings of economies in many countries undercut the attraction of bonds.
Market players also said speculation that Japanese government may compile yet another economic stimulus package and sell more JGBs to finance it.
A number of countries are cautiously easing their lockdown steps, helping to boost risk asset prices globally, while Japan looks to lift a state-of-emergency in many regions this week.
The market showed no reaction to a summary of the Bank of Japan’s last policy meeting, which showed Some policy board members called for even bolder steps than those announced at last month’s policy decision.
Benchmark 10-year JGB futures fell 0.17 point to 152.20.
The 10-year JGB yield rose 1 basis point to 0.005%, the first time it traded above zero percent since April 23.
The 20-year JGB yield rose 0.5 basis point to 0.340% while the 30-year yield rose 2 basis points to 0.475%.
At the shorter end of the market, the two-year JGB yield was flat at minus 0.175% while the five-year yield rose 2 basis points to minus 0.115%. (Reporting by Tokyo Markets Team; Editing by Rashmi Aich)
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