World Economy

JGBs Gain

JGBs GainJGBs Gain

Japanese government bond prices held firm after an auction of five-year JGBs attracted solid demand on Tuesday, amid expectations that the Bank of Japan could ease its policy further later this month, Reuters reported. The 30-year JGB yield fell to a record low of 0.32%, falling 4.0 basis points from Monday while the 20-year yield fell 2.5 basis points to 0.26%, also a record low. Although the market initially dipped in earlier trade following rise in global share markets, the strong support from the Bank of Japan’s gigantic asset purchase scheme overpowered any selling pressure.