JGB long-dated yields rise as China stems decline in yuan

Credit: REUTERS/Thomas White

Japanese government bond yields rose at the long end of the curve on Tuesday after China took steps to curb declines in its currency, which reduced demand for safe-haven assets.

TOKYO, Aug 6 (Reuters) - Japanese government bond yields rose at the long end of the curve on Tuesday after China took steps to curb declines in its currency, which reduced demand for safe-haven assets.

The U.S. government on Monday labelled China a currency manipulator, an unexpected escalation in a trade war between the world's two-largest economies.

Benchmark 10-year JGB futures 2JGBv1 were little changed, up 0.03 point to 154.24, with a trading volume of 28,059 lots.

The 10-year JGB yield JP10YTN=JBTC rose 0.5 basis point to minus 0.195%.

The 30-year JGB yield JP30YTN=JBTC rose 0.5 basis point to 0.290%.

At the short end of the curve, the two-year JGB yield JP2YTN=JBTC fell 1 basis point to minus 0.230%, while the five-year JGB yield JP5YTN=JBTC fell 0.5 basis point to minus 0.285%.

(Reporting by the Tokyo Markets Team; Editing by Shounak Dasgupta)

((stanley.white@thomsonreuters.com; +81 3 6441 1984 twitter.com/stanleywhite1;))

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