JGB yields tick up on U.S. bonds, eyes on Jackson Hole

TOKYO, Aug 23 (Reuters) – Japanese government bond yields ticked up slightly in thin trade on Monday, taking cues from the rise in U.S. bond yields late last week while most investors stayed on the sidelines ahead of a key central bank symposium later in the week.

The Federal Reserve Bank of Kansas City said on Friday its annual economic symposium in Jackson Hole, Wyoming, will take place on Aug. 27 virtually and not in person as planned.

Dallas Federal Reserve President Robert Kaplan, among the U.S. central bank’s most forceful supporters for starting to reduce support for the economy, also said on Friday he may need to adjust that view if the Delta variant of the coronavirus slows economic growth materially.

“Given all this, there seems limited chance that Fed Chair (Jerome) Powell will explicitly indicate he is ready to start tapering in September,” said Koichi Fujishiro, senior economist at Dai-ichi Life Research Institute.

Benchmark 10-year JGB futures price fell 0.11 point to 152.28, with a trading volume of 12,678 lots.

The yield on the on-the-run 10-year JGBs rose 1 basis point to 0.015% while the current five-year JGB yield rose 0.5 basis point to minus 0.125%.

The benchmark 20-year JGBs were untraded while the 30-year yield was flat at 0.645%.

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