JGB yields rise ahead of auctions, BOJ deputy chief speech
TOKYO, March 3 (Reuters) - Japanese government bond (JGB) yields rose on Monday as market players awaited auctions of 10- and 30-year bonds and comments from the Bank of Japan deputy governor this week for rate-hike clues.
The 10-year JGB yield JP10YTN=JBTC rose 3 basis points (bps) to 1.4%. The two-year JGB yield JP2YTN=JBTC rose 1.5 bps to 0.82% and the five-year JGB yield JP5YTN=JBTC rose 3.5 bps to 1.035%.
"The yields have been on upward trend, and when there is no positive market-moving catalyst, they tend to rise," said Miki Den, senior Japan rate strategist at SMBC Nikko Securities.
The Ministry of Finance will conduct the 10-year bond auction on Tuesday and the 30-year bond auction on Thursday.
BOJ Deputy Governor Shinichi Uchida, who orchestrated the central bank's ultra-easy monetary policy in the past, could throw light on the central bank's path for rate hikes when he speaks on Wednesday, strategists said.
The 20-year JGB yield JP20YTN=JBTC rose 1.5 bps to 2.045%.
The 30-year JGB yield JP30YTN=JBTC rose to 2.365%, its highest since October 2008, before trading flat at 2.355%.
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