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Long-dated JGBs edge higher after 20-year auction attracts demand

TOKYO, Sept 10 (Reuters) - Long-dated Japanese government bond prices inched higher on Thursday, taking cues from a 20-year debt sale which attracted ample investor demand.

Benchmark 10-year JGB futures fell 0.01 point to 151.96, with a trading volume of 40,964 lots, while the 10-year JGB yield inched down half a basis point to 0.020%.

The bid-to-cover ratio, a gauge of demand, at Thursday’s 1.2 trillion yen 20-year JGB sale was 3.69.

The 20-year JGB yield was unchanged at 0.405%.

Other yields in the super-long zone posted near two-week lows following the well-received auction result.

The 30-year JGB yield fell half a basis point to 0.590%, a level unseen since Aug. 27.

The 40-year JGB yield also inched down half a basis point to 0.615%, marking its lowest since Aug. 25.

At the shorter end of the curve, both the two-year JGB yield and the five-year yield stood flat at minus 0.135% and minus 0.095%, respectively. (Reporting by Tokyo Markets Team; Editing by Devika Syamnath)