JGBs steady to lower on stimulus, vaccine hopes

(Reuters) – Japanese government bond prices were steady to slightly lower on Wednesday as hopes of additional U.S. stimulus and economic recovery aided by coronavirus vaccines dented the safe-haven allure of government bonds.

Benchmark 10-year JGB futures fell 0.11 point to 151.99, its lowest close in three weeks.

The 10-year JGB yield rose 0.5 basis point to 0.020%, while the five-year yield rose 0.5 basis point to minus 0.105%.

Lawmakers in the United States on Tuesday put forth a flurry of proposals on coronavirus relief packages after a month-long partisan standoff.

Moderna Inc and Pfizer-BioNTech, are in a tight race to launch their COVID-19 vaccines in Europe after both applied for emergency European Union approval.

However, bargain-hunting helped cut early losses in longer maturities.

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