Japan’s 10-year bond prices rise on weak economic data

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TOKYO, Nov 15 (Businesshala) – Japan’s 10-year government bond prices rose on Monday as weaker-than-expected economic growth data prompted investors to buy safe havens.

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The 10-year JGB yield fell 0.5 basis points to 0.065%.

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Japan’s economy contracted faster than expected in the third quarter as global supply disruptions hit export and trade spending plans and fresh COVID-19 cases dampened consumer mood, government data showed. Shown on Monday.

A market participant said that while the market had expected negative growth, the dent was worse than expected.

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The 20-year JGB yield was flat at 0.465%, while the 30-year JGB yield rose 0.5 basis points to 0.680%.

The two-year bonds remained untraded and their yields stood at minus 0.120 per cent, while the five-year yields fell 0.5 basis points to minus 0.085%.

The 40-year JGB yield rose 1 basis point to 0.725%.

Benchmark 10-year JGB futures rose 0.07 points to 151.72 with a business turnover of 11,927 lots. (Reporting by Tokyo Markets team; Editing by Uttaresh.V)

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