December 29, 2017 / 4:48 AM / a month ago

JGBs dip on stronger equities, benchmark yield little changed on the year

TOKYO, Dec 29 (Reuters) - Japanese government bond prices dipped on Friday, weighed by stronger Tokyo equities and weaker U.S. Treasuries.

Caution ahead of a 10-year JGB auction scheduled early in January also pressured the longer-dated maturities.

The 10-year JGB yield rose 0.5 basis point to 0.055 percent. The benchmark yield was poised to end the year almost unchanged, having been stuck in a narrow range under the Bank of Japan’s yield curve control scheme.

Japan’s Nikkei share average rose on its final trading day of the year on Friday as banking shares rebounded, putting the index on track to gain nearly 20 percent in 2017.

U.S. Treasury prices dipped on Thursday, giving back some of Wednesday’s strong month-end extension rally, after the Treasury Department sold $28 billion of seven-year notes to moderate demand. (Reporting by the Tokyo markets team; Editing by Eric Meijer)

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