Ten-year JGB yields are slightly higher; markets eye US employment data

TOKYO, Sept. 2 (Reuters) – Yields on 10-year Japanese government bonds rose on Thursday after a successful auction of the tickets, although trading was lukewarm as investors waited for a key jobs report in the United States this week to assess the Federal Reserve’s decision to gradually reduce stimulus.

The 10-year JGB yield rose 0.5 basis points to 0.030%, at 5:49 am GMT, while benchmark 10-year JGB futures rose 0.04 points to 152.09, with a transaction volume of 18,276 lots.

“Looking at the yield curve, the 10-year area has some appeal and looks strong from a carry demand perspective,” said a market player at a national securities firm.

The five-, 20- and 30-year JGB yields were all stable at minus 0.110%, 0.405%, and 0.645%, respectively.

The two-year note was not traded, but last returned minus 0.130%.

Meanwhile, a good result from the monthly US non-farm payroll report could prompt the Federal Reserve to cut bond purchases sooner.

The median forecast of 80 economists polled by Reuters is 728,000 jobs created in August, although the range of forecasts varies widely and ranges from 375,000 to over a million. (Tokyo Markets Team Report; Editing by Sherry Jacob-Phillips)

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