JGB 10-year bond yield drops tracking U.S. peer on global growth concerns, political uncertainties

The Japanese 10-year government bond yield dropped on the last trading day of the week Friday, tracking a similar movement in the United States counterpart, following concerns over global growth amid ongoing political uncertainties in various parts of the world.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, remained tad lower at -0.001 percent, the yield on the long-term 30-year note slipped 1/2 basis point to 0.660 percent while the yield on short-term 2-year plunged 17 basis points to -0.169 percent by 05:30GMT.

According to a report from Reuters, "U.S. Treasury yields fell on Thursday, with the 10-year's yield hitting a one-week low, as anxiety about slowing global growth and trade tensions between China and the United States renewed safe-haven demand for U.S. government debt".

Investor worries rose after U.S. Commerce Secretary Wilbur Ross said the world's two biggest economies are "miles and miles" from resolving their trade issues, although there is a fair chance of reaching a deal, it added.

Meanwhile, the Nikkei 225 index closed 1.05 percent higher at 20,790.50 by 05:35GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 50.57 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex