Benchmark 10-year JGB futures rose 0.18 yen to
148.7, with a trading volume of 8,663 lots.
(Reporting by Tokyo markets team; Editing by Sonia Cheema)
TOKYO, March 24 (Reuters) - Japanese government bond
(JGB) yields mostly fell on Friday, tracking U.S. Treasury
yields, which dropped on expectations that the Federal Reserve
may pause interest rate hikes.
The 10-year JGB yield fell 1.5 basis points
(bps) to 0.280%, while the 20-year JGB yield slipped 0.5 bp to 1.050%.
U.S. Treasury yields dropped overnight, a day after the Fed
hiked rates by 25 bps but indicated that it is on the verge of
pausing further tightening after the recent collapse of two U.S.
banks. "Japanese government bond prices are firm as U.S. Treasury
yields, particularly those on shorter-end notes, fell on
expectations that the Fed may pause rate hikes," said Shinsuke
Kajita, chief strategist at Resona Holdings Inc in Tokyo.
The five-year yield fell 1.5 bps to 0.060% and
the two-year JGB yield was flat at -0.065%.
Yields on longer-end notes rose, with the 30-year JGB yield rising 1 bp to 1.320% and the 40-year yield climbing 2.5 bps to 1.575%.
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