TOKYO, March 20 (Reuters) - Japanese government bonds fell on Friday, giving back some of the previous session's sharp gains made after the U.S. Federal Reserve struck a dovish tone on interest rates.
The 10-year JGB yield rose half a basis point to 0.325 percent, edging away from the previous session's six-week low of 0.310 percent.
Underpinning bond market sentiment, the minutes of the Bank of Japan's February meeting released on Friday showed that government officials signalled to the central bank that it shouldn't rush in accelerating inflation.
But undermining long-term fundamentals, three Japanese public pension funds, with a combined $250 billion in assets, joined the Government Pension Investment Fund in a model portfolio expected to shift billions of dollars out of bonds into shares.
The superlong zone underperformed, giving back some of its Thursday gains. The yield on the 20-year JGB rose 3.5 basis points to 1.095 percent, moving away from Thursday's low of 1.040 percent, which was the lowest since Feb. 3.
The 30-year yield added 4.5 basis points to 1.295 percent, moving away from Thursday's low of 1.240 percent, the lowest since Jan. 27.
The 10-year JGB futures contract closed flat at 147.90.
(Reporting by Tokyo markets team; Editing by Subhranshu Sahu)