BLBG: Japanese Government Bonds Drop as Stocks Gain Most Since August
By Theresa Barraclough
Dec. 3 (Bloomberg) -- Japanese bonds fell as stocks rose by the most since August, reducing demand for the relative safety of government debt.
The yield on the 1.3 percent bond due December 2019 rose 1.5 basis points, or 0.015 percentage point, to 1.26 percent as of 1:41 p.m. in Tokyo at Japan Bond Trading Co., the nation’s largest interdealer debt broker. The price fell 0.133 yen to 100.355 yen. The benchmark 10-year yield declined to 1.19 percent on Dec. 1, the least since January.
Ten-year bond futures for December delivery dropped 0.14 to 140.07 at the Tokyo Stock Exchange. The Nikkei 225 Stock Average advanced 3.3 percent, headed for the biggest gain since Aug. 24.
To contact the reporter on this story: Theresa Barraclough in Tokyo at tbarraclough@bloomberg.net.
