JGBs fall in Tokyo as 10-year yield rises 3 basis points

  • JGBs fell in early Tokyo trading after U.S. Treasurys declined overnight.
  • 3 basis points lifted the 10-year JGB yield to 2.910%.
  • Treasury Department planned to repurchase up to $6 billion Thursday.

Japanese government bonds fell in early Tokyo trading after U.S. Treasurys declined overnight, with the two markets typically moving together. Rising oil prices and disappointment over the Treasury Department's plan to repurchase up to $6 billion of longer-term debt weighed on government bonds. The 10-year JGB yield rose 3 basis points to 2.910%, while the 20-year yield increased to 3.730% and the 30-year yield to 3.985%. NAB Group Chief Economist Sally Auld said the scale of the expanded operation appeared to disappoint the market.

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