Economic news

JGBs firm as global equities weaken on tech rout

TOKYO, Sept 9 (Reuters) - Japanese government bond prices mostly firmed on Wednesday, tracking U.S. Treasury higher, as tech-driven losses in global equity markets boosted the safe-haven appeal of debt.

Overnight, U.S. Treasuries extended gains and Wall Street closed lower as technology stocks continued to slide for a third straight session.

On the home front, the Nikkei hit a 1-1/2-week low on Wednesday, falling nearly 1% to 23,045.68 as risk sentiment soured.

Benchmark 10-year JGB futures rose 0.16 point to 152, a level unseen since Aug. 25, with a trading volume of 26,307 lots.

The 10-year JGB yield fell 1 basis point to 0.025%, marking a two-week low.

In the super-long run, the 30-year JGB yield slipped 1.5 basis points to 0.595%, hitting its lowest since Aug. 27.

The 40-year JGB yield dropped 1 basis point to 0.620%.

At the shorter end of the market, the five-year yield inched down half-a-basis point to minus 0.095%.

The 20-year JGB yield and the two-year JGB yield were untraded ahead of the finance ministry’s 1.2 trillion yen 20-year JGB debt sale on Thursday.

(Reporting by Tokyo Markets Team, Editing by Sherry Jacob-Phillips)

Source: Reuters

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