JGB futures track Treasuries lower, await auction
* Moves limited before Fed policy decision later Weds
* Market players also wait for 10-yr JGB auction on Thurs
* JGBs mostly easier, but benchmark 10-yr note firm
* Tightness in repo market supports benchmark 304th issue
By Masayuki Kitano
TOKYO, Nov 4 (Reuters) - Ten-year Japanese government bond futures edged lower on Wednesday as traders returned from a holiday, taking their cue from falls in U.S. Treasuries over the past couple of trading sessions.
Cash JGBs mostly eased, although the benchmark 304th 10-year bucked the trend and held firm, with market players saying the benchmark bond was in demand in the JGB repo market, where dealers can borrow bonds in exchange for cash.
Moves in JGBs were subdued overall, with market players awaiting the U.S. Federal Reserve's policy decision later on Wednesday and a 10-year JGB auction on Thursday.
"It is not as if people are trying to sell or buy very actively. The market is a bit weak because of the declines in U.S. Treasuries," said Shinji Ebihara, a quantitative analyst for Mizuho Securities. Continued...
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