January 30, 2020 / 4:49 AM / 21 days ago

JGBs jump on safe-haven demand as coronavirus fears grip markets

TOKYO, Jan 30 (Reuters) - Japanese government bond (JGB) prices jumped on Thursday, with 10-year yields hitting the lowest since November, as investors scurried for safe-haven assets due to worries over the rising death toll from the coronavirus outbreak in China.

Japan and other countries are evacuating their citizens from the Chinese city of Wuhan, the epicentre of the outbreak of a new flu-like virus that has claimed 170 lives in China so far, and has spread rapidly to more than 15 countries.

Benchmark 10-year JGB futures rose 0.26 point to 152.79, with a trading volume of 13,680 lots, to hit the highest since December.

The 10-year JGB yield fell 2.5 basis points to minus 0.065%.

The 20-year JGB yield fell 2.5 basis points to 0.210%, while the 30-year JGB yield fell 3 basis points to 0.340%.

The five-year yield fell 2 basis points to minus 0.155%.

The two-year JGB yield fell 0.5 basis point to minus 0.140%. (Reporting by the Tokyo Markets team; editing by Uttaresh.V)

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