Economic news

JGBs tumble as global fellows retreat, risk attraction grows

JGB rates skidded on Tuesday, hauled down by a wide retreat in worldwide fellows during the lift in risk-on attraction.

japanPhoto: Flickr

The five-year Japanese government bond yield gained 3 bps to minus 0.320 percent.

The benchmark 10-year yield climbed 3.5 basis points to minus 0.225 percent, drifting away from a three-year bottom of minus 0.295 percent hit on Friday.

The 30-year yield was 5.5 basis points higher at 0.275 percent.

The ongoing bounce in worldwide government bond yields, which has spread to the U.S. and Japan, started in the eurozone. German bond yields bounced back from their minimums and gained to one-month peaks on Monday after a report that Berlin is thinking about assuming more debt to stimulate spending.

U.S. Treasury yields gained to three-week peaks on Monday as risk attraction improved following facilitating Sino-U.S. exchange strains and anticipations for less-forceful activity from the ECB the current week.

Japan's Nikkei stock average progressed to a six-week peak on Tuesday as traders risk-on attraction kept on improving in the more extensive markets, including further weight on safe harbor JGBs.


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