TOKYO- Japan’s 10-year government bond yield was unchanged on Monday, after US Treasury yields fell last week.
The 10-year JGB yield was flat at 1 percent after crossing that level for the first time in three months on Thursday.
“The 10-year bond yield seems to be capped at 1 percent. If the yield surpasses that level, investors buy the bonds,” said Gen Taniguchi, market analyst at Mizuho Securities.
US Treasury yields fell on the long end of the curve on Friday as investors paused selling government debt and consolidated positions to book profits after Republican Donald Trump’s victory in Tuesday’s presidential election.
The benchmark US 10-year yield posted its largest weekly drop since early September. The US bond market is closed on Monday for Veterans Day.
The finance ministry conducted an auction for the 10-year inflation-linked bonds earlier in the day, but the market saw little impact on the overall yields, strategists said.
The two-year JGB yield fell 0.5 basis point (bp) to 0.495 percent.
The five-year yield was flat at 0.64 percent.
The 20-year JGB yield rose 0.5 bp 1.835 percent and the 30-year JGB yield rose 0.5 bp to 2.245 percent. The 40-year JGB yield was flat at 2.56 percent.
