JGB yield curve steepens after BOJ cuts superlong bond purchases

Japan's government bond yield curve steepened on Thursday, as yields on the longest tenors rose in response to a cut in central bank purchases, while shorter-dated yields tracked their U.S. peers lower. The 30-year JGB yield rose 5 basis points (bps) to 1.60% as of 0600 GMT, while the 20-year yield was 1.5 bps higher at 1.345%. Meanwhile, the 10-year JGB yield fell 1 bp to 0.585%.