JGBs mixed ahead of 10-yr auction, curve flattens
TOKYO, March 4
TOKYO, March 4 (Reuters) - Japanese government bonds were narrowly mixed on Tuesday morning as the market looks to the result of a 10-year JGB auction later in the day.
The yield curve flattened as a few buyers bought the longest maturities.
Ten-year JGB futures were down 0.01 point at 145.23 at midday, with many players taking a wait-and-see stance as they look to the result of a 2.4 trillion yen ($23.66 billion) 10-yr JGB auction on Tuesday.
JGB players widely expect the auction to go relatively smoothly, supported by demand from dealers.
The current five-year JGB yield rose 1.0 basis point to 0.180 percent while the 10-year yield rose 0.5 basis point to 0.580 percent.
In contrast, the current 30-year yield fell 0.5 basis point to 1.615 percent, its lowest level in two weeks as investors bought off-the-run 30-year bonds while the 20-year yield fell by the same margin to 1.415 percent.