March 19, 2018 / 6:37 AM / a month ago

JGBs little changed in lean trade ahead of year-end book-closing

TOKYO, March 19 (Reuters) - Japanese Government Bonds were little changed on Monday, with many Japanese market participants keeping to the sidelines ahead of their book-closing at the end of this month.

The market reaction was largely muted despite a fall in public support for Japanese Prime Minister Shinzo Abe following suspicions of his involvement in a cronyism scandal.

The 10-year JGB futures gained 0.02 point to 150.89, clocking a meagre 11,673 lots in trading volume, the lowest since Christmas.

The benchmark 10-year JGB yield rose 0.5 basis point to 0.035 percent while the 20-year JGB yield was flat at 0.535 percent.

The 30-year JGB yield was also flat at 0.755 percent.

The Bank of Japan’s holdings of government debt rose to a record 449 trillion yen ($4.24 trillion), or 41.1 percent of all government debt at the end of December, data from the BOJ showed on Monday.

Reporting by Tokyo Markets Team; Editing by Vyas Mohan

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