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The Japanese government bonds remained tad lower at the end of Asian session Tuesday, as investors remained side-lined in a muted trading session that witnessed data of little economic significance amid growing hopes of a positive U.S.-China trade deal shortly.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, slumped nearly 3 basis points to -0.027 percent, the yield on the long-term 30-year jumped 1-1/2 basis points to 0.596 percent and the yield on short-term 2-year plunged 16-1/2 basis points to -0.164 percent by 06:10GMT.
"Safe-haven demand for government debt has declined this week after U.S. President Donald Trump said he may soon sign a deal with Chinese President Xi Jinping to end the seven-month trade war that has slowed global growth and disrupted markets," Reuters reported.
Wall Street edged higher overnight and the 10-year UST bond yield closed higher at 2.67 percent (+2bps), while crude oil prices tumbled after Trump tweeted that they were too high and urged OPEC to “relax and take it easy”, OCBC Treasury Research reported.
Meanwhile, the Nikkei 225 index closed 0.49 percent lower at 21,422.00 while at 06:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -45.62 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
