In This Article:
TOKYO, Feb 17 (Reuters) - Japan's 10-year government bond yield was pinned at the top end of the Bank of Japan's policy band for a sixth straight session after U.S. Treasury rose on the back of strong economic data.
The 10-year JGB yield was flat at 0.500%.
The 20-year JGB yield rose 1 basis point (bps) to 1.305%. The 40-year JGB yield rose 0.5 bp to 1.685%.
U.S. Treasury yields continued their rise overnight after the latest unemployment and producer price data raised expectations the Federal Reserve will hike rates higher for longer to combat inflation.
"The strong inflation could be a rebound from a weak data in December. We need to see the February data to confirm the momentum," said Shinsuke Kajita, chief strategist at Resona Holdings.
The 30-year JGBs were not traded and the yield remained at 1.465%.
The five-year JGBs did not trade and the yield stayed at 0.210%.
The two-year JGB yield rose 0.5 bs to -0.045%.
Benchmark 10-year JGB futures fell 8 yen to 146.63, with a trading volume of 8,072 lots. (Reporting by Tokyo markets team; Editing by Rashmi Aich)