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TOKYO, Feb 18 (Reuters) – Japanese government bond prices remained flat Monday after the Bank of Japan refrained from cutting back on purchases. month.
The Bank of Japan (BOJ) maintained the size of its JGB purchase in its Monday operation; and purchased four maturity zones – one to three, three to five, 10 to 25 and 25 to 40 years.
Some market participants expected the BoJ to reduce bond purchases as the 10-year yield remained below the zero per cent target set by the Bank's policy in recent weeks.
The 10-year JGB futures contract rose 0.06 percentage point to 152.89, closing the record of 2.99 years last month at 152.99.
The benchmark 10-year JGB cash yield dropped 0.5 basis points to minus 0.03%. The five-year JGB yield fell 0.5 basis points to -0.175%.
The longest market position was limited by the caution that preceded the 20-year JGB auction on Tuesday.
The 30-year returns of the JGB and the 40-year-old were 0.590% and 0.665%, respectively. (Report by the Tokyo Markets Team, edited by Sherry Jacob-Phillips)
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