JGBs trade steady as investors remain sidelined in thin trading

The Japanese government bonds traded flat Tuesday as investors remain sidelined in any major trading activity amid a subdued session that witnessed data of little economic significance.

The benchmark 10-year bond yield, which moves inversely to its price, hovered around 0.08 percent, the long-term 30-year bond yields also traded flat at 0.92 percent and the yield on the short-term 2-year note remained silent at -0.24 percent by 06:30 GMT.

Japan's exports rose in January at a slower pace than the previous month due to a decline in shipments to the U.S. and the Lunar New Year holidays and as concerns about growing trade protectionism cast doubts over the outlook.

Further, fxports in January rose 1.3 percent from the same period a year ago, less than the median estimate for a 4.7 percent annual increase and slower than a 5.4 percent year-on-year increase in December. It's the second month in a row exports have grown, following 14 straight months of contraction.

Meanwhile, Japan’s Nikkei 225 rose 0.71 percent to 19,388 at 05:40GMT, while at 05:00GMT, the FxWirePro's Hourly Yen Strength Index remained neutral at 52.18 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex