May 24, 2019 / 6:17 AM / a month ago

JGBs rise on stronger U.S. Treasuries, slowdown worries

TOKYO, May 24 (Reuters) - Japanese government bond (JGB) prices rose on Friday, tracking gains in U.S. Treasuries overnight as worries over global economic slowdown lifted safe-haven debt demand.

The benchmark 10-year JGB yield lost half a basis point to minus 0.070%.

The 20-year yield and the 30-year yield each shed one basis point, to 0.325% and 0.500%, respectively.

The 40-year yield also dropped 1 basis point, to 0.530 percent.

Ten-year JGB futures closed up 0.08 point at 152.86, with a trading volume of 22,718 lots.

The finance ministry on Friday offered to sell 400 billion yen ($3.65 billion) of off-the-run JGBs with remaining maturities of one year to five years.

The ministry regularly conducts such sales in an attempt to provide the market with liquidity.

The auction bid-to-cover ratio, which gives an indication of demand, came in at 4.87, compared with 4.41 in the previous auction.

U.S. Treasury yields dropped across the board on Thursday amid continued concerns about global growth and a worsening trade conflict between the United States and China. ($1 = 109.57 yen) (Reporting by Tokyo Markets team; Editing by Subhranshu Sahu)

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