Japan 30-Year JGB Yield Climbs Before Key Bond Auction

Japanese assets moved modestly in early Thursday trading, with Nikkei 225 futures slipping 0.27% while 10-year Japanese Government Bond (JGB) futures edged 0.07 point higher. In the cash market, the yield on 30-year JGBs rose 1.5 basis points to 3.085%, contrasting with a 0.5-basis-point decline in the 5-year yield to 1.02%. Traders cited positioning ahead of Japan’s upcoming 30-year bond auction as the main driver of the divergent moves along the yield curve.