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By Brigid Riley
TOKYO, Sept 8 (Reuters) - Japanese government bond (JGB) yields fell on Friday, under pressure from declines in U.S. Treasury yields, while central bank bond buying also continued to drain bond supply.
In addition, Japan's economic growth was revised lower in data, a sign the Bank of Japan may keep stimulus in place for longer.
The 10-year JGB yield led the fall across maturities, declining as much as 2 basis points (bps) to 0.635% and easing further off Wednesday's one-week high of 0.66%. The yield last sat at 0.645%.
U.S. benchmark Treasury yields extended declines from overnight in Asian trading hours, dipping as low as 4.21%.
Early on Thursday, it reached the highest since Aug. 22 at 4.308% after shooting up 22 bps since the end of last month.
Meanwhile, the BOJ purchased debt across a wide range of maturities, including the 10-year sector in scheduled bond purchase operations, on Friday.
The JGB market has been torpid for weeks as investors hold out for higher yields, while an overbearing Bank of Japan bond-buying programme drains supply.
The pressure between supply and demand amid excessive BOJ buying is something investors are "deeply aware of," said Keisuke Tsuruta, fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities.
Barring significant rises or falls in the yields, however, it is unlikely the BOJ will make adjustments to the monthly JGB purchases, said Resona Holdings strategist Takeshi Ishida.
"As long as the 10-year yield holds around the 0.6% range, I don't think (the BOJ will) be combing through and changing the amounts that much this month."
The 20-year JGB yield was up 0.5 bp at 1.395% after hitting 1.375% earlier in the session.
The 30-year yield rose to 1.665% after falling as low as 1.64%.
The two-year yield sat 1 bp lower at 0.005%, while the five-year yield decreased 0.5 bp to 0.215%. (Reporting by Brigid Riley; Editing by Sohini Goswami)