Japanese bonds moved slightly lower in the absence of BOJ buying. Prices however will likely see a rebound tomorrow as the central bank is expected to resume its buying. Also, there were rumours that a big public pension fund will buy JGBs across the curve on Tuesday. Financial markets in Japan will remain closed until January 05 for New Year.The yield on 5-yr JGB fell 0.4 basis point to 0.045% while that on 10-yr JGB was steady at 0.327%. In the superlong zone, the 30-yr yield rose 1 basis point to 1.274% while the 20-yr yield edged up 0.6 basis point to 1.077%.
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