Japan's 40-year bond yield hits lowest since December 2016

The yields on the long duration Japanese government bonds (JGB) are feeling the pull of gravity.

Notably, the 40-year JGB yield fell below 0.780 percent a few minutes before press time; the lowest level since December 2016.

The decline could be associated with the 0.5 percent drop in the S&P 500 futures and the resulting haven demand for JGBs.