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JGB yields track US Treasury peers lower
Apr 18, 2024 12:03 AM

TOKYO, April 18 (Reuters) - Japanese government bond

(JGB) yields fell on Thursday, tracking overnight U.S. Treasury

yields lower, with the market shrugging off comments from a Bank

of Japan (BOJ) board member.

The 10-year JGB yield fell 2.5 basis points

(bps) to 0.86%, slipping from 0.885%, its highest level since

Nov. 13.

U.S. Treasury yields dipped on Wednesday, slowing a

week-long selloff that had pushed benchmark 10-year Treasury

yields to their highest levels since November.

Earlier in the day, BOJ board member Asahi Noguchi, known

for his dovish views, said the pace of future interest rate

hikes would likely be much slower than that of its global peers

in recent tightenings.

"His dovish stance was not fully reflected in his comments

today," said chief bond strategist at Mizuho Securities.

The BOJ last month ended its negative rate, setting the

overnight call rate as its new policy rate and decided to guide

it in a range of 0-0.1%.

The market is betting there will be another rate hike this

year, helping the policy-sensitive two-year JGB yield

rise to 0.28%, its highest level since November

2009, for a second session.

The two-year bond yield was last down at 0.27%, while the

five-year yield fell 2 bps to 0.470%.

The 20-year JGB yield fell 4 bps to 1.625%

and the 30-year JGB yield fell 3 bps to 1.910%.

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