Japanese govt bonds close lower, tracking US Treasurys |
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Mon, 26 Mar 2007 08:01
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TOKYO (XFN-ASIA) - Japanese government bond prices closed lower, tracking the declines in prices of US Treasurys Friday, dealers said.The yield on the benchmark 10-year bond was at 1.645 pct, up from 1.605 pct at Friday's close.The yield on the two-year note rose to 0.830 pct from 0.815 pct and the yield on the lead five-year note was at 1.195 pct, up from 1.170 pct.The yield on the bellwether 20-year bond rose to 2.105 pct from 2.055 pct and the yield on the 30-year bond jumped to 2.335 pct from 2.270 pct.Bond prices move inversely to yields.The price of the 10-year bond futures contract was almost flat at 134.12 yen, having closed at 134.11 yen Friday.In the US Friday, the yield on the benchmark 10-year Treasury note rose to close at 4.61 pct from 4.58 pct Thursday.Akitsugu Bando, a senior strategist at Okasan Securities, said the market here had seen some short-covering, but that overall it had been jittery.The consumer price index (CPI) for last month is due to be released Friday, and investors have already priced-in the likelihood of the national core CPI showing a year-on-year fall, dealers said.'As investors already know the Bank of Japan's stance on interest rates, which is to adjust them gradually, the CPI is not likely to be a decisive factor in providing direction to the market,' said Bando.'The Bank of Japan's quarterly Tankan survey of business sentiment will get more attention as a market incentive,' he said. The results of the latest Tankan survey are due to be released next Monday.(1 usd = 117.98 yen)kaori.kaneko@xfn.com
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Japanese govt bond prices end morning mixed ahead of 10-yr bond auction 