TOKYO, Nov 29 (Reuters) - Japanese government bond prices traded higher across the board on Thursday, tracking gains in U.S. Treasuries, with the key 10-year cash JGB yield hitting a four-month low.
Ten-year JGB futures gained 0.20 point to 151.21, its highest level since September 2017, with a trading volume of 42,404 lots, as the yield on U.S. 10-year Treasury notes fell to a 10-week low of 3.013 percent in late Asian trading hours.
The benchmark 10-year cash JGB yield fell 1.5 point to a four-month low of 0.080 percent.
The super-long sector followed suit, with the 20-year , the 30-year and the 40-year yields falling between one and two basis points each to 0.590 percent, 0.810 percent and 0.965 percent, respectively.
On Wednesday, U.S. Federal Reserve Chair Jerome Powell delivered a speech in which he signaled that an end to the bank's interest-rate hike cycle may be closer than previously suggested.
The market was also supported by Thursday's auction of two-year debt, which proceeded smoothly and attracted modest demand from both foreign and some domestic buyers.
The two-year notes were sold at the lowest price of 100.465, marginally higher than market expectations of about 100.46, and the auction drew bids 4.66 times the amount offered. (Reporting by Tokyo Markets Team; Editing by Sunil Nair)