JGB yields ease slightly as investors brace for U.S. nonfarm payrolls

Credit: REUTERS/THOMAS WHITE

TOKYO, April 3 (Reuters) - Yields on Japanese government bonds fell slightly on Friday as investors braced for data expected to show an increase in U.S. unemployment, highlighting the damage caused by the coronavirus pandemic.

Dismal manufacturing data from major economies and record rise in unemployment benefits claims in the United States this week has increased demand for the safety of government debt.

With global coronavirus infections now crossing the 1 million mark, a return to business as usual in the near term seems unlikely, putting downward pressure on bond yields.

Benchmark 10-year JGB futures 2JGBv1 fell 0.08 point to 152.66, with a trading volume of 7,736 lots.

The 10-year JGB yield JP10YTN=JBTC fell 0.5 basis point to minus 0.010%.

The 20-year JGB yield JP20YTN=JBTC fell 0.5 basis point to 0.265%.

At the long end of the yield curve, the 30-year JGB yield JP30YTN=JBTC fell 0.5 basis point to 0.385%, while the 40-year JGB yield JP40YTN=JBTC fell 0.5 basis point to 0.395%.

The five-year yield JP5YTN=JBTC rose 1 basis point to minus 0.120%.

The two-year JGB yield JP2YTN=JBTC was flat at minus 0.140%.

(Reporting by the Tokyo markets team; Editing by Shounak Dasgupta)

((stanley.white@tr.com; +81 (0)3 4563 2799; twitter.com/stanleywhite1 ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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