August 28, 2018 / 4:16 AM / 3 months ago

JGBs slip as stocks advance to 11-week high

TOKYO, Aug 28 (Reuters) - Japanese government bond prices slipped on Tuesday as domestic stocks advanced to 11-week highs and reduced the allure of safe-haven debt.

The 10-year and 20-year JGB yields rose by half a basis point each to 0.095 percent and 0.610 percent , respectively.

The 30-year yield also climbed half a basis point, to 0.830 percent.

The Nikkei surged to an 11-week high after a trade agreement reached between the United States and Mexico lifted investor risk sentiment.

Tuesday’s liquidity-enhancing JGB auction failed to attract strong investor demand in the wake of rallying stocks.

The bid-to-cover ratio, a gauge of demand, at the 500 billion yen ($4.53 billion) auction slipped to 2.26 from 3.13 at the previous sale.

The finance ministry regularly sells off-the-run JGBs at such auctions to help improve liquidity in the market. ($1 = 110.4900 yen) (Reporting by the Tokyo markets team; Editing by Subhranshu Sahu)

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