JGBs soft as Japanese stocks, U.S. Treasuries yields rise

Tue May 20, 2014 1:10am EDT

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TOKYO, May 20 (IFR) - Japanese government bond prices were slightly weaker on Tuesday on a rise in domestic share prices and U.S. bond yields overnight, and after a 20-year JGB auction drew tepid demand.

The 10-year JGB yield rose 0.5 basis point to 0.590 percent while the 30-year JGB yield rose 1.0 basis point to 1.695 percent. The 10-year JGB futures price dipped 0.02 point to 145.23.

The Nikkei share average rose 0.5 percent while the 10-year U.S. Treasuries yield rose on profit-taking to 2.55 percent from 2.52 percent at the end of last week.

The auction of 1.2 trillion yen ($11.86 billion) reopened 20-year JGBs produced the lowest price of 100.60, near the low end of market expectations. The bid-to-cover was 3.56, below 3.99 at the previous auction.

($1 = 101.1700 Japanese Yen) (Reporting by Masatsugu Hisatsune; Editing by Richard Borsuk)

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