December 27, 2018 / 4:51 AM / 2 months ago

JGBs sag as stock markets rebound sharply from deep losses

TOKYO, Dec 27 (Reuters) - Japanese government bond prices sagged across the board on Thursday as stock markets rallied back from deep losses suffered earlier in the week.

The 10-year JGB yield rose half a basis point to 0.025 percent. The yield on Tuesday had fallen to zero percent, the lowest since September 2017, when risk aversion gripped the broader markets and sent global equities on a tumble.

The 30-year yield was up 2 basis points at 0.730 percent .

The Bank of Japan on Thursday offered to buy 680 billion yen ($6.13 billion) of five- to 40-year JGBs in a regular debt-purchasing operation.

Bond buying by the BOJ, however, was not enough to prop up JGBs as Japan’s Nikkei soared more than 4 percent following a sharp overnight rebound on Wall Street, weakening investor demand for safe-haven debt.

A retreat by U.S. Treasury prices in the wake of Wall Street’s big bounce and a poorly received five-year debt auction also weighed on JGBs. ($1 = 110.9200 yen) (Reporting by the Tokyo markets team; Editing by Sunil Nair)

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