TOKYO, May 24 (Reuters) - Yields on Japanese government bonds on Monday tracked U.S. Treasury lower, while the country’s finance minister brushed off an immediate need for supplementary budget even as Japan may extend its emergency measures to weather the COVID-19 crisis.
* A few lawmakers in Japan have called for an extra budget to fund spending to combat the pandemic. But the government judged there was not enough time to pass a budget through parliament with less than a month before it closes, the Yomiuri newspaper said, citing several government and ruling coalition lawmakers.
* Investors cheered Finance Minister Taro Aso’s dismissal of any additional spending, which implies no new additional bond sale will occur anytime now.
* The 10-year JGB yield fell 0.5 basis point to 0.075%. * The 20-year JGB yield dipped 0.5 basis point to 0.445%. * The 30-year JGB yield slipped 0.5 basis point to 0.670%. * The five-year yield fell 0.5 basis point to minus 0.100%. * The 40-year JGB yield was flat at 0.725%.
* Benchmark 10-year JGB futures rose 0.05 point to 151.46, with a trading volume of 13,832 lots. (Reporting by Tokyo markets team, Editing by Sherry Jacob-Phillips)