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Japanese government bond yields flat as investors await U.S. inflation data

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Japanese government bond yields saw little movement on Monday, with investors awaiting the release of key U.S. inflation data for signs of how hawkish central banks may be with future interest rate hikes.

The 10-year JGB yield was flat at 0.245%, just below the Bank of Japan’s implicit policy cap of 0.25%. The five-year yield stayed at 0.045%.

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The two-year JGB yield rose half a basis point to -0.080%.

Benchmark 10-year JGB futures rose 0.04 point to 148.69.

“Futures are firm, but cash bonds aren’t seeing much movement,” said Tokai Tokyo Securities chief bond strategist Kazuhiko Sano. “There’s a strong sense that the market is waiting for the U.S. CPI (Consumer Price Index) report.”

The 30-year JGB yield fell 2.5 basis points to 1.285%.

The 20-year note and the 40-year note both went untraded. (Reporting by Sam Byford and Tokyo markets team; Editing by Krishna Chandra Eluri)



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