June 17, 2019 / 4:29 AM / a month ago

Shorter-dated JGBs slip, mood subdued ahead of Fed and BOJ meetings

TOKYO, June 17 (Reuters) - Shorter-dated Japanese government bond prices tracked losses by U.S. Treasuries and slipped on Monday, with the overall market mood subdued ahead of this week’s policy meetings by the Federal Reserve and the Bank of Japan.

The two-year and five-year JGB yields edged up half a basis point to minus 0.200% and minus 0.230%, respectively.

The benchmark 10-year JGB yield stood unchanged at minus 0.130%.

The Fed begins a two-day meeting on Tuesday, while BOJ policymakers start their two-day gathering on Wednesday.

Short-dated U.S. Treasury yields rose on Friday after solid data subdued investor fears of rapid economic decline in the second quarter and decreased expectations the Fed would cut rates at its meeting this week.

The BOJ is expected to maintain its massive stimulus programme this week while signalling its readiness to ramp up monetary support if growing risks such as the escalating U.S.-China trade war threaten the Japanese economy’s modest expansion. (Reporting by the Tokyo markets team; Editing by Simon Cameron-Moore)

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