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JGB yields fall after mixed US jobs data
TOKYO : Japanese government bond (JGB) yields fell on Monday after a closely watched U.S. employment report showed mixed results at the end of last week. The 10-year JGB yield fell 0.5 basis point to 0.230 per cent and the 20-year JGB yield fell 1 basis point to 0.895 per cent. The 30-year JGB yield fell 1 basis point to 1.250 per cent. The August U.S. payrolls report showed stronger-than-expected hiring but a climb in the unemployment rate to 3.7 per cent eased some concerns about the Federal Reserve being overly aggressive in raising interest rates as it attempts to bring down high inflation. "Outcome of the U.S. jobs data was mixed," said a market participant at a domestic brokerage. A market participant at a local bank said there was a demand for bonds from investors who had shorted bonds ahead of the U.S. jobs report. The 40-year JGB yield fell 1 basis point to 1.400 per cent. Yields on short ends also fell with the two-year JGB yield falling 0.5 basis point to -0.090 per cent and the five-year yield falling 1 basis point to 0.010 per cent. Investors may turn cautious after buying bonds as U.S. market will be closed on Monday for the labour day holiday, other participants said. Benchmark 10-year JGB futures rose 0.24 point to 149.51, with a trading volume of 7,849 lots. Source: CNA #JGB
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