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JGBs little changed despite collapse in German coalition talks
November 20, 2017 / 6:37 AM / in 23 days

JGBs little changed despite collapse in German coalition talks

TOKYO, Nov 20 (Reuters) - Japanese government bonds were little changed on Monday, drawing limited support from gains in U.S. Treasuries after German coalition talks failed, stoking political uncertainty in the euro zone’s largest economy.

The 10-year JGB yield was up 0.5 basis point at 0.035 percent, while the 20-year yield stood flat at 0.570 percent and the 30-year yield was unchanged at 0.820 percent.

Although the firm tone in the U.S. bond market was supportive, a few investors were eager to test 0.020 percent in the 10-year yield, its 1-1/2-month low touched earlier this month amid a generally upbeat Japanese economic outlook.

The benchmark December 10-year JGB futures contract was up 0.01 point in price at 150.96, with trading volume hitting the lowest level since Nov. 2.

Big Japanese banks were the biggest buyers of Japanese bonds last month while foreign investors buying has slowed down, showed data published on Monday by Japan Securities Dealers Association, a brokerage industry group. (Reporting by Tokyo Markets Team; Editing by Sherry Jacob-Phillips)

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