March 27, 2014 / 6:35 AM / 3 years ago

JGBs dip as Tokyo equities advance

TOKYO, March 27 (Reuters) - Japanese government bond prices slipped on Thursday as a sizable bounce by Tokyo stocks weighed on the bond market.

The benchmark 10-year cash yield rose 0.5 basis point to 0.630 percent, and the 20-year yield edged up 1 basis pint to 1.500 percent.

The June 10-year bond futures was unchanged on the day at 144.71.

Market players said bargain-hunting demand from large banks and regional banks limited losses in the cash 10-year zone.

An auction of 2.7 trillion yen ($26.39 billion) in two-year notes attracted ample investor demand. The bid-to-cover ratio, a gauge of demand, rose to 6.58 from 5.15 at the last auction of the maturities last month.

$1 = 102.3100 Japanese Yen Reporting by Masatsugu Hisatsune; Editing by Richard Borsuk

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