TOKYO, March 31 (Reuters) – Japan’s 10-year government bond (JGB) yield rose to a near three-week high on Friday, with investors selling save-haven debt as global financial worries subsided.
The 10-year JGB yield JP10YTN=JBTC rose 1 basis point (bp) to 0.325%, its highest level since March 13.
The 20-year JGB yield JP20YTN=JBTC rose 1 bp to 0.995% and the 30-year JGB yield JP30YTN=JBTC rose 1 bp to 1.220%.
“JGB yields were in demand for the fiscal year-end so their yields were on downward trend even as their overseas peers rose as worries about the financial system eased,” said Kazuhiko Sano, chief fixed income strategist at Tokai Tokyo Securities.
“JGB yields finally caught up the move of overseas yields on the last day of the fiscal year.”
Market participants eye details on the BOJ’s bond purchase plans for three months from April to be announced later in the session. Some strategists expect the BOJ will reduce the amounts across tenors amid a global rally in bonds.
The 40-year JGB yield JP40YTN=JBTC rose 1 basis point to 1.430%.
The two-year JGB yield JP2YTN=JBTC rose 0.5 bp to -0.055%.
The five-year yield JP5YTN=JBTC rose 0.5 bp to 0.090%.
(Reporting by Junko Fujita; Editing by Nivedita Bhattacharjee)
((junko.fujita@thomsonreuters.com;))
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