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JGBs sluggish, superlongs remain mildly bearish

Thursday, 24 Oct 2013 | 10:23 PM ET

TOKYO, Oct 25 (IFR) - Ten-year Japanese government bond futures were largely flat on Friday, with superlongs carrying a mildly bearish tone after the previous session's selling.

However, despite the weakness of superlong bonds, the yen swap curve was bull-flattening slightly, likely due losses in the Japanese stock market.

The 30-year yield traded at 1.610 percent, up one basis point from Thursday, while the 10-year yield added 0.5 basis point to 0.610 percent.

Life insurers and foreigners were suspected of selling in the 30-year and 20-year sectors in the previous session, forcing dealers to offload 30s and 40s.

Ten-year JGB futures dipped 1 tick to 14.85.

There was no major cash bond trading so far.

The Nikkei share average was down 1 percent at 14,344.68, while the dollar stood at 97.38 yen.