Long-dated JGB yields inch up before auction
TOKYO, July 22 (IFR) - Longer-dated Japanese government bond yields inched up on Tuesday as the market braced for fresh supply of super long bonds.
A bounce by Tokyo shares also nudged JGB yields higher.
The Ministry of Finance will offer 1.2 trillion yen ($11.8 billion) of 20-year JGBs on Wednesday.
The benchmark 10-year yield rose 0.5 basis point to 0.540 percent and the 20-year yield climbed 1 basis point to 1.405 percent.
September 10-year JGB futures dipped 0.01 point to 145.82.
JGB market losses were limited somewhat as U.S. Treasuries were well supported by flight-to-quality bids amid ongoing tensions in Ukraine and Gaza.
The Nikkei share average rose 1 percent on Tuesday, with exporters pulling ahead as the yen weakened.
($1 = 101.4700 Japanese Yen) (Reporting by Masatsugu Hisatsune; Editing by Jacqueline Wong)