Market Snapshot: Japanese 30yr Yields Hit New Lows

Japanese bonds with longer maturities hit new lows, according to Tradeweb data.

The bid yield for the 30-year Japanese bond was 0.409%, down 2 bps from Friday’s close of 0.429%, with an intraday low of 0.391% and an intraday high of 0.413%. This is the lowest point for this security since it began trading on Tradeweb in 2008.

The bid yields on the 10-year and 2-year bonds remain in negative territory. For the 10-year bond, it was -0.080%, down 1.7 bps from Friday’s close of -0.063%, with an intraday low of -0.080% and an intraday high of -0.063%. For the 2-year bond, it was -0.221%, down 1.5 bps from Friday’s close of -0.206%, with an intraday low of -0.226% and an intraday high of -0.213%.

This comes amid ongoing uncertainty over economy and monetary policy and a release of a Bank of Japan survey showing businesses expect consumer inflation of 0.8% for the coming year on average.

In the U.S., Treasury yields fell following a Commerce Department data release showing new orders for manufactured goods fell 1.7% in February, indicating economic growth slowed in the first quarter. 

For the 6-month bill, the bid yield was 0.343%, down 5.3 bps from Friday’s close of 0.396%. The intraday low was 0.333%, its lowest point since November 23, 2015. The intraday high was 0.399%.

The bid yield for the 2-year note was down to 0.748%, 1.6 bps off Friday’s close of 0.764%. Intraday trading ranged from a low of 0.732% to a high of 0.760%.

The 10-year note was down to 1.778%, off 1.3 bps from Friday’s close of 1.791%. Intraday trading ranged from a low of 1.755% to a high of 1.790%.

Yields are as of 2:57 PM ET.

The charts below are based on indicative, real-time data from Tradeweb.

CHART 1: Japanese 30-Year Yields – April 7, 2015 – April 4, 2016 (12 Month View)

CHART 2: Japanese 10-Year Yields – April 7, 2015 – April 4, 2016 (12 Month View)