June 14, 2019 / 4:59 AM / a year ago

JGBs rise tracking gains in U.S. Treasuries

TOKYO, June 14 (Reuters) - Japanese government bond (JGB) prices broadly rose on Friday, tracking overnight gains in U.S. Treasuries amid rising expectations of interest rate cuts by the Federal Reserve.

The benchmark 10-year JGB yield and the 20-year yield lost one basis point each, to minus 0.125% and 0.245%, respectively.

Short-dated maturities were a shade stronger, with the two-year yield and the five-year yield off half-a-basis point each, at minus 0.205% and minus 0.235%, respectively.

Ten-year JGB futures ticked up 0.04 points to 153.48, with a trading volume of 14,628 lots by mid-afternoon trade.

The Bank of Japan offered to buy 480 billion yen ($4.4 billion) of five- to 10-year bonds at a regular debt-purchase operation on Friday.

Increased expectations of U.S. central bank rate cuts pulled short-dated yields lower on Thursday, steepening the yield curve ahead of retail sales data later on Friday and the meeting of Fed policymakers next week.

$1 = 108.31 yen Reporting by Tokyo Markets team, Editing by Sherry Jacob-Phillips

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