JGBs Mixed as U.S. Election Outcome, Jobs Data in Focus

TOKYO, Nov 6 Reuters Japanese government bond prices were mixed on Friday as investors awaited the U.S. presidential election results and jobs data, while firm Tokyo shares also weighed on the market.

Benchmark 10year JGB futures rose 0.03 point to 152.17, with a trading volume of 16,603 lots, while the 10year JGB yield edged up halfabasis point to 0.020.

The 20year JGB yield gained 1 basis point to 0.390.

The 30year JGB yield and the 40year JGB yield climbed 1.5 basis points to 0.625 and 0.655, respectively.

Yields on the shorter end of the market moved in the opposite direction, the twoyear JGB yield and the fiveyear yield falling halfabasis point each to minus 0.145 and minus 0.120, respectively.

Democrat Joe Biden edged closer to victory, while U.S. President Donald Trump made false claims, filing lawsuits and calling for recounts in a race yet to be decided.

The market was less likely to chase prices higher ahead of the U.S. jobs data, said Makoto Suzuki, senior bonds strategist at Okasan Securities.

Data due later in the day includes U.S. nonfarm payrolls, which is expected to show a slight slowdown in job creation.

The appeal of safehaven assets dimmed as Japans Nikkei share average closed at its highest level since November 1991 on Friday, underpinned by growing expectations of a gridlock in U.S. Congress under a possible Joe Biden presidency.

Reporting by Tokyo markets team

Source Reuters

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