New York, September 20 (FinanceEnquiry.com) – As soon as Japanese government bonds (JGBs) got a boost from weaker stocks that encouraged investors to search for safer assets, it grew today. Moreover, Chinese manufacturing data increased apprehensions regarding sluggish growth in leading trading partner of Japan making the Nikkei stock average to drop down 1.6 percent.
With the augmentation intended at government bonds and treasury discount bills, the Bank of Japan (BOJ) informed on September 19 about growing its purchasing of asset and loan plan to 80 trillion yen by 10 trillion yen.
The Japanese government bonds futures contract of 10-year for the month of December closed high by 0.23 point. Post the increase to above five-month up of 1.950 percent, the bond yield of 20-year shed to 1.680 percent by 1.5 basis points and the yield of 30-year dropped to 1.940 percent by half a basis point.
Adding up 82 trillion yen, or say, $1.05 trillion, a record 8.7 percent of excellent Japanese government debt at the end of the second quarter is held by abroad investors and this has been displayed by separate data of Bank of Japan released today. Furthermore, as debt crisis of Europe incited other investors to spread into what they supposed to be safer assets, that was really high 20 percent from the similar period a year ago.
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