30-yr JGB yield skids 10 basis points, biggest move in 2-1/2 yrs

TOKYO, March 8 Fri Mar 8, 2013 12:47am EST

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TOKYO, March 8 (Reuters) - The yield on 30-year Japanese government bonds marked their biggest plunge in 2 1/2 years on Friday, after a sale of the maturity prompted a wave of shortcovering.

The 30-year yield skidded 10 basis points to 1.690 percent, their sharpest intraday move since September 2010, and moving back toward a 2-1/2 year low of 1.625 percent hit on Tuesday.

Ahead of the 30-year auction, the yield rose as high as 1.795 percent.