JGBs remain little changed after decline in U.S. counterpart offsets support from BoJ’s bond buying

The Japanese government bonds remained little changed Wednesday after the Bank of Japan’s (BoJ) regular bond-buying operation was offset by a decline in the United States Treasuries in the overnight session.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, remained tad higher at 0.05 percent, the yield on the long-term 30-year note hovered around 0.73 percent and the yield on short-term 2-year traded flat at -0.12 percent by 05:00 GMT.

Treasury prices fell and the benchmark 10-year yield climbed towards the 3 percent threshold as crude oil prices rallied to a 3-1/2-year high after the U.S. abandoned an international nuclear deal with Iran, likely curbing the OPEC member's crude exports in an already tight market.

The BoJ on Wednesday offered to buy JPY1.03 trillion (USD9.41 billion) of one- to 10-year JGBs as part of its regular debt-purchasing scheme, Reuters reported.

Meanwhile, Japan’s benchmark Nikkei 225 stock index traded 0.44 percent lower at 22,410.00 by 05:05 GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 33.60 (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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