October 17, 2016 / 4:06 AM / in 9 months

JGBs dip in line with weaker Treasuries, BOJ buying limits losses

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TOKYO, Oct 17 (Reuters) - Japanese government bond prices tracked a retreat in U.S. Treasuries and dipped on Monday, although a regular debt-buying operation by the Bank of Japan helped limit losses.

The BOJ on Monday bought a total of 1.23 trillion yen ($11.95 billion) of one- to 10-year JGBs as a part of its bond purchasing scheme.

The benchmark 10-year JGB yield was up half a basis point at minus 0.055 percent, while the 30-year yield rose 1.5 basis points to 0.510 percent.

The steepening of the JGB yield curve was in line with developments in the Treasury market.

The 10-year/30-year Treasury yield spread is the steepest in about a month, as the 30-year bond underperformed on Friday with its yield rising sharply after Federal Reserve Chair Janet Yellen suggested the central bank may allow inflation to exceed its 2 percent target.

$1 = 102.9000 yen Reporting by the Tokyo markets team; Editing by Kim Coghill

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