JGBs slip slightly in thin fiscal year-end trade
TOKYO, March 31 (IFR) - JGB prices ended the Monday morning session slightly lower as shares rose, though trading volume was limited as domestic financial institutions have to close their books today for the fiscal year.
Investors and dealers were seen reluctant to buy ahead of tomorrow's monthly 10-yr JGB auction and the ensuing new issue rush in the domestic bond market at the beginning of the new fiscal year starting tomorrow.
The benchmark 10-year JGB futures dipped 0.06 to 144.70. The current 10-year cash JGB yield rose 1.0 basis point to 0.635 percent. The five-year yield rose 0.5 basis point to 0.200 percent.
The market showed limited response to data showing industrial production fell 2.3 percent in February from previous month, well below market expectations for a 0.3 percent rise.
(Reporting by Masatsugu Hisatsune; Editing by Kim Coghill)