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JGBs flat, BOJ operation results offset soft US bonds

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Most Japanese government bond prices were steady on Friday as solid results from the Bank of Japan's bond-buying operations countered headwinds from falls in US Treasuries.

[TOKYO] Most Japanese government bond prices were steady on Friday as solid results from the Bank of Japan's bond-buying operations countered headwinds from falls in US Treasuries.

The yield on the 10-year cash JGB was flat at 0.390 per cent while the five-year yield was also unchanged at 0.115 per cent. The 10-year JGB futures price ticked up 0.07 point to 147.33.

The BOJ bought a total of 1.18 trillion yen of JGBs from the one- to five-year zone and 10- to 40-year bonds.

There were limited sales of short maturities, underpinning the market.

Buying in longer maturities also produced solid prices, but the sector faced some selling pressure ahead of a 40-year JGB auction on Tuesday.

US bond prices sagged on Thursday after better-than-expected weekly jobless figures shifted sentiment in favour of a start to Fed interest-rate increases sooner than later.

REUTERS

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