June 9, 2014 / 4:10 AM / 4 years ago

JGBs dip after BOJ skips bond buying operation

TOKYO, June 9 (IFR) - Japanese government bond prices dipped on Monday after the BOJ did not conduct bond buying operations despite market expectations of such an action.

The 10-year JGB yield rose 0.5 basis point to 0.600 percent , while the 30-year JGB yield rose 1.0 basis point to 1.710 percent.

Contrary to market expectations, the BOJ did not offer to buy JGBs on Monday under its JGB purchase program. Market players had expected the BOJ this week to buy JGBs on Monday and on Wednesday ahead of its two-day policy board meeting from Thursday.

The market showed no reaction to Jan-March GDP data, which was revised up to 1.6 percent growth from 1.5 percent. (Reporting by Masatsugu Hisatsune; Editing by Kim Coghill)

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