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Long-end JGBs slip ahead of auction, short ones steady
June 12, 2017 / 5:34 AM / 5 months ago

Long-end JGBs slip ahead of auction, short ones steady

TOKYO, June 12 (Reuters) - Long-dated Japanese government bond prices slipped on Monday on caution ahead of a 20-year government debt auction the following day, while short- to medium-term notes stabilised after their sell-off last week.

The benchmark 10-year JGB yield ticked up 1.0 basis point to 0.060 percent, while the September 10-year JGB futures, which look set to take over the benchmark status on Monday, fell 0.09 point in price.

The 20-year yield stood flat at 0.560 percent , while the 30-year yield rose 0.5 basis point to 0.825 percent.

Market players reduced their poisons in 10- to 30-year bonds ahead of the auction of 1.0 trillion yen 20-year JGBs scheduled for Tuesday, traders said.

On the other hand, the shorter end of the market steadied after selling last week, which took the two-year yield to its highest level since early last year.

Many market players say accumulative impact of reduction in the BOJ’s buying in those maturities so far this year had led to rise in their yields.

The two-year yield ticked down 0.5 basis point to minus 0.115 percent off last week’s high of minus 0.09 percent.

The five-year yield stood flat at minus 0.080 percent below its four-month high of minus 0.075 percent set on Thursday. (Reporting by Tokyo Markets Team; Editing by Sherry Jacob-Phillips)

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