June 8, 2018 / 5:57 AM / a year ago

JGBs hug tight ranges ahead of central bank, G7 meetings

FILE PHOTO: Japanese national flags flutter in front of buildings at Tokyo's business district in Japan, February 22, 2016. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Japanese government bond prices were little changed on Friday, with many market players staying on the sidelines ahead of a raft of upcoming events next week, including policy meetings of three major central banks.

Most market players expect the Bank of Japan to stay with its ultra-loose monetary policy stance in the near future even as the world’s other major central banks gradually shift towards tightening.

Still, many investors are looking to whether that dynamics may change next week when the all three central banks hold their policy meetings.

Uncertainties stem also from likely discord over trade policies at the Group of Seven (G7) summit this weekend and from a historic meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un on Tuesday.

Ten-year JGB futures 2JGBv1 rose 0.01 point to 150.85. The weekly trading range so far of 0.15 point is the narrowest since August, except for a holiday shortened week at the new year.

The 10-year JGB yield JP10YTN=JBTC was flat at 0.045 percent. The 20-year JGB yield JP20YTN=JBTC rose 0.5 basis point to 0.520 percent.

Reporting by Tokyo Markets Team; Editing by Jacqueline Wong

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