JGBs dip as Tokyo stocks rally

Wed Apr 2, 2014 12:32am EDT

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TOKYO, April 2 (IFR) - Japanese government bond prices dipped on Wednesday as Tokyo stocks rallied, dimming the allure of safe haven debt.

A rise in longer-term U.S. Treasury yields on Tuesday following upbeat U.S. manufacturing data also weighed on JGBs.

The benchmark 10-year JGB yield rose 1 basis point to 0.625 percent.

The June 10-year JGB futures slipped 0.11 point to 144.74.

As expected, the Bank of Japan offered to buy 900 billion yen ($8.69 billion) in JGBs, in a regular operation designed as part of the central bank's massive monetary easing.

Market players said the operation helped slow the rise in JGB yields. ($1 = 103.5750 Japanese Yen) (Reporting by Masatsugu Hisatsune; Editing by Kim Coghill)

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