World Economy

JGBs Gain

JGBs GainJGBs Gain

Japanese government bonds rose on Monday, bolstered by the Bank of Japan’s asset buying operations, as investors awaited the next session’s sale of 10-year JGBs, CNBC reported. Weak stocks also added to the appeal of fixed-income assets. The BOJ offered to buy 790 billion yen ($7.08 billion) of JGBs in the one- to five-year zone and 400 billion yen of JGBs in the 10- to 40-year zone under its asset purchase program. The benchmark 10-year yield was down 2 basis points at minus 0.085%. On Tuesday, the ministry of finance will conduct an auction of 10-year JGBs, the first of the new fiscal year that began this month.