June 1, 2020 / 6:56 AM / a month ago

Super-long JGB yields rise after BOJ's steady buying operation

TOKYO, June 1 (Reuters) - Super-long Japanese government bonds edged lower on Monday after the Bank of Japan (BOJ) conducted regular buying operations, with both the 30-year and 40-year JGB yields hitting one-year highs.

The BOJ maintained the size of its JGB purchase and bought bonds of one- to three-year maturities worth 340 billion yen and 25- to 40-year maturities worth 30 billion yen, as expected by market participants.

Benchmark 10-year JGB futures fell 0.03 point to 152.17, with a trading volume of 13,661 lots, while in the cash bond market, the 10-year JGB yield rose half a basis point to 0.005%.

The 30-year JGB yield gained 1.5 basis points to 0.515%, while the 40-year JGB yield rose 2.5 basis points to 0.555%. The 20-year JGB yield was unchanged at 0.350%.

In contrast to the trend seen at the longer end of the market, the two-year JGB yield and the five-year yield dipped half a basis point each to minus 0.170% and minus 0.135%, respectively.

The Nikkei share average gained 0.8% to 22,062.39, its highest closing level since the end of February. (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu)

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