JGBs Mostly Gain as Coronavirus Cases Surge

TOKYO, Nov 13 Reuters Japanese government bond JGB prices mostly rose on Friday, in line with overnight U.S. Treasuries, as resurging new cases of the novel coronavirus weighed on risk sentiment.

Benchmark 10year JGB futures rose 0.14 point to 152.14, with a trading volume of 14,899 lots, while the 10year JGB yield inched down half a basis point to 0.020.

In the superlong zone, the 20year JGB yield fell 1 basis point to 0.395, while the 30year JGB yield lost half a basis point to 0.645.

At the shorter end of the curve, the twoyear JGB yield stood flat at minus 0.145, while the fiveyear yield fell 1 basis point to minus 0.115.

U.S. Treasury yields sank on Thursday as the countrys COVID19 infections surged above 100,000 for an eighth consecutive day.

Japan reported a record high of 1,634 new cases on Thursday, a Japanese broadcaster said.

A weaker local equity market also increased the appeal of the safehaven debt. Japans Nikkei share average snapped its eightsession winning run and was last 0.7 lower on virus concerns.

Reporting by Tokyo markets team; editing by Uttaresh.V


Source Reuters

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