JGBs dip as Tokyo stocks retrace sharp losses

Wed Apr 9, 2014 10:52pm EDT

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TOKYO, April 10 (IFR) - Japanese government bonds prices dipped on Thursday as Tokyo stocks rebounded from the previous day's sharp losses and dampened demand for safe haven, low yield debt.

The benchmark 10-year cash yield rose 0.5 basis point to 0.615 percent.

The June 10-year futures dipped 0.02 point to 144.89.

Super long JGBs sagged amid caution ahead of Friday's 700 billion yen ($6.87 billion) 30-year debt auction.

Traders said the lack of inclusion of super long JGBs at the Bank of Japan's regular bond-purchasing market operation and overnight losses by longer-dated U.S. Treasuries also dampened sentiment.

Tokyo's Nikkei stock average gained 0.7 percent. ($1 = 101.8500 Japanese Yen) (Reporting by Masatsugu Hisatsune; Editing by Simon Cameron-Moore)

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