TOKYO: Japanese government bond yields fell on Wednesday ahead of an expected US Federal Reserve announcement of its first interest rates hike in three years, as a drop in oil prices soothed investor nerves about rising inflation.
The 10-year JGB yield fell 0.5 basis point to 0.200%. The 20-year JGB yield fell 1.5 basis points to 0.680%.
Oil had settled below $100 on Tuesday, the first time since late February. Trading sessions have been volatile since Russia’s invasion of Ukraine on Feb. 24, with prices hitting 14-year highs on March 7, but since then Brent has fallen nearly $40 a barrel and WTI about $34.
Yields fell as the Bank of Japan’s bond buying operations witnessed relatively firm results.
The 20-year JGB yield fell 1.5 basis points to 0.680%.
The 30-year JGB yield fell 0.5 basis point to 0.900%.
The 40-year JGB yield fell 1.5 basis points to 0.920%.
The two-year JGB yield was flat at minus 0.030%.
The five-year yield fell 0.5 basis point to 0.030%.
Benchmark 10-year JGB futures rose 0.05 point to 150.08, with a trading volume of 12,338 lots.
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