JGB yields rise, bonds with super-long maturities pause rally
TOKYO, Jan 30 (Reuters) - Japanese government bond (JGB) yields rose on Thursday, led by a sell-off of bonds with super-long maturities after their price rally paused.
The 30-year JGB yield JP30YTN=JBTC rose 3.5 basis points (bps) to 2.265%, after falling to a more than two-month low of 2.21% in the previous session. The 40-year JGB yield JP40YTN=JBTC rose 4 bps to 2.64%.
"Demand for bonds with super-long maturities had been strong, supported by the firm outcome of recent auctions," said Katsutoshi Inadome, a senior strategist at Sumitomo Mitsui Trust Asset Management.
"The Ministry of Finance will reduce sales of super-long bonds from April, which also underpinned demand for such longer-dated bonds. But that momentum has faded."
The 20-year JGB yield JP20YTN=JBTC rose 2.5 bps to 1.9%.
The 10-year JGB yield JP10YTN=JBTC rose 2 bps to 1.21%.
Bank of Japan Deputy Governor Ryozo Himino spoke at a seminar from 0610 GMT on Thursday.
His speech, scheduled a few days after the BOJ raised its policy rate, was less focused compared with his previous appearance in mid-January.
"There has been no miscommunication between the BOJ and the markets about the central bank's future policy, as the BOJ has said what it could say after its policy meeting last week," Inadome said.
Last Friday, the BOJ raised interest rates to 0.5%, their highest since the 2008 global financial crisis, and revised up its inflation forecasts.
The five-year yield JP5YTN=JBTC rose 1.5 bps to 0.88%.
The two-year JGB yield JP2YTN=JBTC rose 2 bps to 0.715% after Himino spoke. The other yields have not moved as of 0700 GMT.
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