TOKYO, Jan 14: Japanese government bond yields edged away from record lows on Wednesday as the market braced for a fresh supply of 30-year debt. The five-year JGB yield rose half a basis point to 0.010 percent. The five-year yield touched a record low of 0.00 percent on Tuesday as tumbling oil prices hit risk assets and drove up investor demand for safe-haven government debt. The benchmark 10-year yield was at 0.260 percent after hitting a record low 0.255 percent on Tuesday. The Ministry of Finance offered 700 billion yen ($5.95 billion) of 30-year debt on Wednesday. Participants see the relatively low 1.5 percent coupon on the new 30-year paper as an unattractive feature. But they still expect a decent auction result with the Bank of Japan’s extensive easy policy, prospects of further easing by the European Central Bank and uncertainty towards the global economy all a boon for the debt market. (AGENCIES)
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