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)