Gov't bond futures turn minus on media report on Mori.
Prices of 10-year Japanese government bond futures surrendered early gains and finished Wednesday morning slightly lower on a media report that Prime Minister Yoshiro Mori faces a resignation request from the New Komeito party, a member of the ruling coalition.
The price of the March futures contract for 10-year bonds shed 0.11 point from Tuesday to 137.60, sending the yield up 0.009 percentage point to 1.627%.
Buying momentum was stronger on the cash bond market. In interdealer trading, the yield on the No. 228 10-year, 1.5% government bond ended the morning at 1.365%, down 0.025 percentage point.
The March futures opened higher and rose to as high as 137.92 in the morning, up 0.21 point, but was pulled down into negative territory on a Kyodo News report that a senior member of the New Komeito party said Mori should resign at an early date.
The report, which came in the late morning, stirred selling on the government bond market and buying on the stock market, dealers said.
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|Publication:||Japan Weekly Monitor|
|Date:||Feb 19, 2001|
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