JGB yields edge up ahead of BOJ's policy decision
By Junko Fujita
TOKYO, Dec 18 (Reuters) - Japanese government bond (JGB) yields edged higher on Thursday as investors awaited signals on future interest rate hikes from Bank of Japan Governor Kazuo Ueda's comments at his post-policy meeting news conference on Friday.
The 10-year JGB yield JP10YTN=JBTC inched up 0.5 basis point (bp) to 1.980%, matching the 18-year high reached in the previous session.
With the BOJ widely expected to raise interest rates by 25 basis points to a three-decade high of 0.75% at the end of its two-day policy meeting on Friday, the market awaits signals from Ueda on the future rate-hike path.
"The trade is limited ahead of the conclusion of the policy meeting. It is hard to make active bets on the bonds," said Miki Den, a senior Japan rate strategist at SMBC Nikko Securities.
The two-year JGBs JP2YTN=JBTC, which are most sensitive to the BOJ's policy rate, had not been traded, as of 0400 GMT.
The five-year yield JP5YTN=JBTC was flat at 1.440%.
The 20-year JGB yield JP20YTN=JBTC rose 1.5 bps to 2.935% and the 30-year JGB yield JP30YTN=JBTC rose 1 bp to 3.360%.
The 40-year JGB yield JP40YTN=JBTC rose 1.5 bps to 3.670%.
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