JGBs mostly higher; 5-year sale weighs on midterm maturities

Thu Feb 13, 2014 10:14pm EST

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TOKYO, Feb 14 (IFR) - Japanese government bond prices were mostly higher on Friday, tracking gains in U.S. Treasuries, although an auction of five-year debt weighed slightly on midterm maturities.

U.S. Treasury debt prices advanced on Thursday after two days of losses as weaker-than expected economic data rekindled the view that the Federal Reserve could pause in reducing its asset purchases.

Lead March 10-year JGB futures were up 0.03 point at 144.93 at midday. The 20-year JGB yield fell 1.5 basis points to 1.440 percent, while the five-year yield edged up 0.5 basis point to 0.190 percent.

The Ministry of Finance set the coupon for the new five-year JGBs it offered on Friday at 0.2 percent, unchanged from the previous auction of the maturity the previous month.

Traders expect the 2.7 trillion yen ($26 billion) of five-years to draw ample demand from investors.

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