January 25, 2019 / 7:47 AM / 6 months ago

JGBs firmer in subdued trade, taking cue from U.S. Treasuries

TOKYO, Jan 25 (Reuters) - Japanese government bond prices were firmer amid subdued trading on Friday, taking their cue from a rise in U.S. Treasuries as anxiety about slowing global growth and Sino-U.S. trade tensions continued to support safe-haven demand for debt.

The 10-year JGB futures rose 0.13 points to 152.66, supported by firmer U.S. Treasuries on Thursday, although trading volume stood at 18,512 lots, the lowest level in a month.

The benchmark 10-year cash JGB yield was a basis point lower on the day at minus 0.005 percent.

The super-long sector followed suit, with the 20-year yield falling 1 basis point to 0.455 percent and the 30-year and 40-year yields dropping 0.5 basis point each to 0.655 percent and 0.745 percent, respectively.

U.S. Treasury yields fell on Thursday, with the 10-year’s yield hitting a one-week low of 2.701 percent. It last stood at 2.735 percent.

Investor worries rose as U.S. Commerce Secretary Wilbur Ross said the world’s two biggest economies were “miles and miles” from resolving their trade issues and business growth in the euro zone has weakened to its lowest reading in 5-1/2-years, according to IHS Markit.

Reporting by Tokyo Markets Team; Editing by Shreejay Sinha

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