Economic news

JGBs Recover as Nikkei Rises; Sino-U.S. Accord Expected

Japanese government bond (JGB) rates dropped over maturities on Tuesday, submitting general direction to a rally in Tokyo shares and overnight misfortunes in U.S. Treasuries, a day before the marking of a Phase 1 exchange accord between the world's two greatest economies.

japanPhoto: Flickr

Benchmark 10-year Japanese government bond futures dropped 0.24 point to 151.76, with an exchanging volume of 18,973 lots.

The benchmark 10-year money Japanese government bond yield added 1.5 bps to 0.010 percent.

In the super-long zone, the 20-year and the 30-year yields added 1 bp each toward 0.300 percent and 0.450 percent, separately, while the 40-year yield edged up a half of a bp to 0.480 percent.

At the shorter end of the curve, the two-year yield added 1 bp to minus 0.130 percent and the 5-year yield gained 1.5 basis points to minus 0.095 percent.

On the Tokyo stock exchange, the benchmark Nikkei average progressed 0.7 percent to its four-week top, with indications of perky mood among Beijing and Washington supporting traders' risk-on demand.

U.S. Treasury rates tumbled on Monday as traders moved their concentration from the Middle East strains to the Sino-U.S. agreement.

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