January 24, 2019 / 4:07 AM / 4 months ago

Longer-dated JGBs edge higher, 20-year auction draws steady demand

TOKYO, Jan 24 (Reuters) - Prices of longer-dated Japanese government bonds edged higher on Thursday, with the maturities lifted after a 20-year debt auction attracted steady investor demand.

The 20-year and 30-year JGB yields were both half a basis point lower at 0.445 percent and 0.665 percent , respectively.

The bid-to-cover ratio, a gauge of demand, at Thursday’s 1 trillion yen ($9.13 billion) 20-year auction rose to 4.57 from 3.44 at the previous sale in December.

The new 20-year JGBs were seen to have attracted bids from investors stocking up their inventories ahead of the fiscal year-end. Japan’s fiscal year runs through Mar. 31.

Other JGB maturities lagged the super longs, with recent price gains and the accompanying decline in yields running their course for the time being.

The 10-year JGB yield nudged up half a basis point to 0.005 percent after slipping below the zero percent threshold during the past two sessions amid risk-aversion in the broader markets.

$1 = 109.5000 yen Reporting by the Tokyo markets team; Editing by Shreejay Sinha

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below