Japanese government bonds gained Thursday after manufacturing PMI declined to nine-month low for the month of February.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell 1/2 basis point to 0.036 percent, the yield on the long-term 30-year note slid 1/2 basis point to 0.755 percent and the yield on short-term 2-year down 1/2 basis point lower at -0.15 percent by 04:30 GMT.
The latest flash manufacturing PMI data from the Japanese economy, as published by the Nikkei, showed the weakest improvement in business conditions since October 2017. Flash Japan Manufacturing PMI declines in March to 53.2, from 54.1 in February and against 54.3 expectations.
The Bank of Japan in its daily open market operation held today bought JPY450 billion of to 5-10 year JGBs, JPY190 billion worth of bonds of 10-25 years of maturity and JPY70 billion worth of bonds of over 25 years of maturity.
Meanwhile, the Nikkei 225 index traded 0.53 percent higher at 21,495 by 04:30 GMT, while at 04:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at -16.85 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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