TOKYO: Japanese government bond yield edged down on Tuesday, tracking US Treasury yields lower in the previous session, as market participants awaited the results of the US presidential election.

The 10-year JGB yield inched down 0.5 basis point to 0.935%. The two-year JGB yield fell 0.5 bp to 0.455% and the five-year yield fell 1 bp to 0.57%.

“The market is cautious ahead of the US election and investors stayed away from active trading,” said Naoya Hasegawa, chief bond strategist at Okasan Securities.

US Treasury yields slid across the board on Monday, as traders squared up positions ahead of Tuesday’s election.

Japan bonds set for weekly drop as PM Ishiba takes office

Japan’s financial markets were closed on Monday due to a public holiday.

Yields on the 30-year JGB yield inched up 0.5 bp to 2.21%.

The 40-year JGB yield also rose 0.5 bp to 2.555%.

The 20-year JGB yield was flat at 1.775%.