February 20, 2018 / 7:30 AM / in a year

JGBs steady in thin trade

TOKYO, Feb 20 (Reuters) - Japanese government bonds were steady to slightly weaker on Tuesday, but trading was extremely thin with many benchmark cash bonds untraded as investors looked for further cues.

The 10-year JGB yield rose 0.5 basis point to 0.060 percent but two-, five-, 20- and 30-year benchmark bonds were untraded.

It was the first time since December 2015 that the 20-year JGBs were not traded during the day. For 30-year JGBs, it was the first time since April 2016.

The price of 10-year JGB futures dipped 0.03 point to 150.72, with only 12,799 lots traded. Again, except for the Christmas day last year, it was the lowest trading volume in more than six months.

Investors were reluctant to chase JGBs higher for now after their slow rally since early June, market players said. (Reporting by Tokyo Markets Team)

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