TOKYO, March 9 Japanese government bond prices
fell on Thursday, weighed down by a slide in U.S. Treasuries and
subdued response to a five-year debt auction.
The benchmark 10-year JGB yield rose 2 basis
points to 0.090 percent, its highest since Feb. 22.
The bid-to-cover ratio, a gauge of demand, at Thursday's 2.4
trillion yen ($20.97 billion) five-year auction slipped to 2.86
from 4.26 at the previous sale in February.
The auction drew lukewarm investor demand as the five-years
had become expensive, with the maturity's yield having sunk to
2-1/2-month lows prior to the sale, analysts said.
The midterm zone underperformed after the auction results
were released, with the five-year yield rising 2.5
basis points to minus 0.125 percent.
Treasury yields jumped on Wednesday, with the two-year yield
hitting its highest levels in more than 7-1/2 years, as a strong
gain in U.S. private-sector jobs in February cemented
expectations that the Federal Reserve would raise interest rates
($1 = 114.4400 yen)
(Reporting by the Tokyo markets team)