JGBs steady, market braces for new supply

Mon Jun 16, 2014 10:32pm EDT

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TOKYO, June 17 (IFR) - Japanese government bonds were mostly steady on Tuesday with the market bracing for new supply.

A bounce in Tokyo shares also capped the JGB market.

The Ministry of Finance is offering 1.2 trillion yen ($11.76 billion) of 20-year JGBs on Tuesday.

Dealers expect ample investor demand for the new super longs, which traditionally attract demand from life insurers and pension funds.

The benchmark 10-year JGB yield rose 0.5 basis point to 0.600 percent.

September 10-year JGB futures edged up 0.02 point to 145.21.

Tokyo's Nikkei stock average gained 0.5 percent.

($1 = 102.0500 Japanese yen) (Reporting by Masatsugu Hisatsune; Editing by Jacqueline Wong)

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