CORRECTED - CORRECTED-JGBs dip, caution prevails before 10-year auction
(Corrects Nikkei historical comparison in paragraph 11)
* JGBs dip, dealers sell to prepare for 10-year auction
* Activity light before U.S. jobs data, ECB meeting
* Losses limited on falling stocks, Nikkei down 0.1%
By Shinichi Saoshiro
TOKYO, July 3 (Reuters) - Japanese government bonds edged lower on Thursday as caution prevailed before a 10-year bond auction and as investors waited to see how markets react to U.S. jobs data and an expected rate hike by the European Central Bank.
JGBs fell despite a slide in Tokyo shares as bond dealers sold to protect themselves against the outcome of the 1.9 trillion yen ($17.95 billion) auction of 10-year paper, which was offered with a 1.7 percent coupon.
Market watchers said demand would likely be limited before the two big events later in the day and because investors have already had the chance to buy at such a yield level.
"A 1.7 percent coupon is modest in appeal," said Tatsuo Ichikawa, fixed-income strategist at ABN AMRO Securities Continued...
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