Economic news

JGB yields slip, track U.S. Treasuries after soft jobs data

TOKYO, Sept 3 (Reuters) - Japanese government bond yields dipped on Thursday, tracking overnight moves in U.S. Treasuries after soft private-sector job figures stoked concerns about an upcoming government jobs data.

An auction of 900 billion yen ($8.47 billion) 30-year JGBs attracted tepid demand but did little to change the overall sentiment.

Benchmark 10-year JGB futures rose 0.16 point to 151.90, on course to log its fourth consecutive session of gains.

The 10-year cash JGB yield fell 0.5 basis point to 0.035%, while the 20-year yield fell 0.5 basis point to 0.415%.

The 30-year JGB yield fell 0.5 basis point to 0.605%.

At the shorter end, the two-year yield was flat at minus 0.120%, while the five-year yield fell 0.5 basis point to minus 0.085%.

The market took cues from falls in U.S. Treasuries after Wednesday’s ADP National Employment report showed a job growth of 428,000 last month, less than a half of economists’ forecasts.

Investors showed no reaction to comments from Bank of Japan board member Goushi Kataoka, the most dovish on the board, that the central bank must take bolder easing steps.

$1 = 106.3000 yen

Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu

Source: Reuters

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