JGB Yields Rise after Surge in U.S. 10Year Treasury Yields

TOKYO, Feb 8 (Reuters) – Japanese government bond yields rose on Monday, after U.S. 10-year Treasury yields soared to their highest level in nearly a year as softer-than-expected U.S. jobs data strengthened expectations of more stimulus spending from Washington.

The auction for 10-year, inflation-linked Japanese bonds on Monday received slightly lower demand from last time, failing to boost the market. The tenders were 3.07 times oversubscribed, compared with 3.31 times in November.

The 10-year JGB yield rose 0.5 basis point to 0.060%, while the 20-year JGB yield rose 0.5 basis point to 0.450%.

The 30-year JGB yield jumped 1.5 basis points to 0.665%.

The two-year JGB yield rose 0.5 basis point to minus 0.130% and the five-year yield rose one basis point to minus 0.100%.

The 40-year JGB yield rose one basis point to 0.705%.

Benchmark 10-year JGB futures fell 0.14 point to 151.5, with a trading volume of 20,914 lots.

U.S. bonds extended losses further in Asia on Monday, with the benchmark 10-year yields rising as much as 1.189%, its highest since March.

(Reporting by Tokyo markets team; Editing by Devika Syamnath)

Source: Reuters

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