June 11, 2019 / 6:04 AM / 16 days ago

JGBs sag tracking losses in U.S. Treasuries

TOKYO, June 11 (Reuters) - Japanese government bond (JGB) prices dipped on Tuesday, dented by weaker U.S. Treasuries and as stronger stocks dimmed the safe-haven appeal of debt.

The benchmark 10-year JGB yield rose one basis point to minus 0.115%.

The 20-year yield also gained one basis point to 0.245%, while the 30-year yield was up half a basis point at 0.355%.

Yields on short-dated maturities also climbed, with the two-year yield advancing half a basis point to minus 0.195% and the five-year yield up 1.5 basis points at minus 0.220%.

Ten-year JGB futures fell 0.11 points to 153.45, with a trading volume of 54,135 lots about 15 minutes before the market close.

The finance ministry on Tuesday offered to sell 600 billion yen ($5.5 billion) of off-the-run JGBs with remaining maturities of 5 years to 15.5 years.

The ministry regularly conducts such sales as it seeks to provide the market with liquidity.

The auction bid-to-cover ratio, which gives an indication of demand, came in at 3.06, below the previous auction’s bid-to-cover ratio of 3.37.

Tokyo’s benchmark Nikkei share average was up 0.4% in late afternoon trade as a weaker yen underpinned cyclical stocks such as exporters.

U.S. government bond yields rose on Monday, as risk appetite was lifted by the U.S.-Mexico trade and migration deal signed on Friday, tempering expectations of Federal Reserve interest rate cuts in 2019. ($1 = 108.59 yen) (Reporting by Tokyo Markets team)

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