TOKYO, May 28 Reuters Japanese government bond yields rose on Friday, tracking U.S. Treasury yields higher, even as investors witnessed a solid outcome from the Bank of Japans bondbuying operation.
Bond prices dropped amid a sharp gain in the domestic stocks, with the Nikkei share average crossing the 29,000 level for the first time since May 11.
U.S. Treasury yields rose overnight, as a New York Times report cited that President Joe Biden will announce a 6 trillion budget for 2022 fuelled supply concerns.
The 10year JGB yield rose one basis point to 0.080. The 20year JGB yield rose 0.5 basis point to 0.445. The 30year JGB yield rose 0.5 basis point to 0.670.
The fiveyear yield rose 0.5 basis point to minus 0.100. The twoyear JGB yield were untraded.
The 40year JGB yield was unchanged at 0.710. Benchmark 10year JGB futures fell 0.16 point to 151.42, with a trading volume of 22,613 lots.
Reporting by Tokyo markets team