Japanese 10 Year Bond Slips Below 0.3%

Japanese government bonds rose further on Tuesday as stocks tumbled worldwide, with a key 10-year JGB yield slipping below 0.3 percent percent for the first time ever.

In late interdealer trading in cash JGBs, the yield on the 336th 10-year issue with a 0.5 percent coupon stood at 0.280 percent, down from 0.320 percent late Monday.

The lead March futures contract on 10-year JGBs ended up 0.21 point at 148.10 on the Osaka Exchange. Volume grew to 33,945 contracts from Monday’s 16,569.

JGBs attracted safe-haven buying as Tokyo stocks plunged to drive down the key Nikkei average below 17,000 with a tumble of 3.02 percent.

Speaking of the risk-off mood, an official of a major securities house said that falling crude oil prices and uncertainty over Greek politics prompted investors to adjust positions.

A foreign securities firm official said the key JGB yield will continue falling for the time being.Speech

via Japan News

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