TOKYO, April 27 (Reuters) – Japanese government bond prices edged down on Tuesday, taking a cue from softer U.S. bond market and on light position adjustments after the market’s steady rally so far this month.
The market showed no reaction to the Bank of Japan, which kept its monetary policy on hold in line with expectations and forecast Japan’s consumer inflation will not reach its 2.0% target by 2023, the end of Governor Haruhiko Kuroda’s tenure.
Benchmark 10-year JGB futures fell 0.03 point to 151.45, off 1 1/2-month high of 151.66 touched last week.
The 10-year JGB yield rose 1 basis point to 0.080% while the 20-year JGB yield ticked up 0.5 basis point to 0.440%. The five-year yield rose 0.5 basis point to minus 0.100%.
U.S. Treasuries dipped, pushing up their yields, on Monday after an auction of short- and intermediate-dated debt drew mixed demand ahead of the Federal Reserve’s policy meeting starting on Tuesday. (Reporting by Tokyo Markets Team, Editing by Sherry Jacob-Phillips)
