Japanese government bonds fell on Wednesday, with benchmark futures snapping a seven-session win streak, as traders took cues from a retreat in short-term U.S. Treasuries overnight.
A closely watched auction of 30-year JGBs scheduled for Thursday also gave investors reason to be cautious.
Benchmark 10-year JGB futures (2JGBv1) slid 0.27 yen to close at 138.60 yen, ending the longest string of gains since June 2023.
Cash 10-year JGB yields (JP10YTN=JBTC), which rise when bond prices fall, added 2 basis points (bps) to 1.49% as of 0602 GMT, lifting off the nearly one-month low of 1.465% touched on both Monday and Tuesday.
Five-year yields (JP5YTN=JBTC) advanced 1.5 bps to 1.02%, and two-year yields (JP2YTN=JBTC) climbed 2 bps to 0.77%.
Overnight, two-year Treasury yields (US2YTN=RR) rose from a three-month low following a steep drop after a run of weak U.S. economic data, particularly Friday’s monthly payrolls report, boosted the…
