August 31, 2018 / 7:08 AM / 3 months ago

JGBs edge higher tracking firmer Treasuries

TOKYO, Aug 31 (Reuters) - Japanese government bond prices were steady to slightly higher on Friday, with the benchmark 10-year futures recovering from a 2-1/2-week low hit in the previous session, supported by firmer Treasuries and month-end demand.

Ten-year JGB futures climbed 0.08 point to 150.39, pulling away from 150.29, their lowest since August 15 touched on Thursday.

The benchmark 10-year cash JGB yield stood flat at 0.105 percent, while the 20-year yield slipped one basis point to 0.615 percent.

The 30-year JGB yield stood flat at 0.845 percent while the 40-year yield dipped 0.5 basis point to 0.985 percent.

U.S. Treasury yields hit session lows on Thursday in a flight-to-quality sparked by a report that President Donald Trump planned to impose tariffs on $200 billion worth of Chinese goods next week, and after Argentina’s central bank raised interest rates to 60 percent.

Some insurers and pension funds were seen buying long-dated bonds to extend their bond maturity at the end of the month. (Reporting by Tokyo Markets Team; Editing by Vyas Mohan)

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