TOKYO, Aug 29 (Reuters) - Japanese government bond yields slipped to fresh three-year lows on Thursday as persisting global recession concerns, stemming from intensifying U.S.-China trade tensions and the prospect of a no-deal Brexit, drove investors to safe-haven assets.
The 30-year yield was down 1 basis point at 0.150%, its lowest since July 2016, feeling a downward pull with its U.S. counterpart falling to a record low.
The 10-year JGB yield was down 1 basis point at minus 0.280% after stooping to minus 0.285% the previous day, its lowest since July 2016.
With government bonds firmly in demand, Thursday’s 2 trillion yen ($18.98 billion) two-year JGB auction attracted ample buyers.
The bid-to-cover ratio, a gauge of demand, rose to 5.40 from 4.71 at the previous sale last month. ($1 = 105.3900 yen) (Reporting by the Tokyo markets team; editing by Gopakumar Warrier)