TOKYO, March 30 (Reuters) – Japanese government bond prices gained on Monday, as rising coronavirus infection cases in Tokyo fuelled worries that the government could shut down the capital and deepen an almost inevitable recession in the economy.
However, trading volumes were low as most Japanese players stayed on the sidelines ahead of their financial year end on March 31.
Benchmark 10-year JGB futures rose 0.43 point to 152.77, though trading volume reached just 5,500 lots by late afternoon trade.
The 10-year JGB yield fell 0.5 basis point to minus 0.005%, dipping to negative levels for the first time in about two weeks.
The yield curve flattened as longer-dated yields fell a bit more.
The 20-year JGB yield fell 1 basis point to 0.285% while the 30-year JGB yield fell 2 basis points to 0.400%.
The 40-year JGB yield fell 3.5 basis points to 0.410%.
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