March 12, 2019 / 6:21 AM / 3 months ago

JGBs edge lower as gains in stocks hurt demand for debt

TOKYO, March 12 (Reuters) - Japanese government bond (JGB) prices slipped on Tuesday as a rally in shares hurt demand for safe-haven debt.

The benchmark 10-year JGB yield rose 0.5 basis points to minus 0.035 percent.

The 20-year yield advanced 1 basis point to 0.405 percent while the 30-year yield rose 0.5 basis points to 0.585 percent.

Ten-year JGB futures gained 0.03 points to 152.81 yen, with a trading volume of 22,299 lots.

The five-year yield was unchanged at minus 0.160 percent after an auction of the maturity attracted ample investor demand.

The bid-to-cover ratio, a gauge of demand, at the 2 trillion yen ($17.96 billion) five-year debt sale was 4.71, compared to an average ratio of 4.5 in the past 10 auctions.

Japan’s Nikkei rallied 1.8 percent as investor sentiment got a boost from a weakening yen and overnight gains in technology-related shares on Wall Street. ($1 = 111.3400 yen) (Reporting by Tokyo Markets team; Editing by Shreejay Sinha)

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