TOKYO, June 10 (IFR) - Japanese government bond prices
mostly edged down on Tuesday, pushing up yields in the 9-year
and longer zone.
As expected, the Bank of Japan refrained from offering to
buy JGBs under its massive purchase scheme, as it normally does
when the Ministry of Finance conducts a JGB sale.
The MOF carried out monthly 300 billion yen ($2.93 billion)
liquidity enhancement auction for off-the-run 20-year, 30-year
and 40-year JGBs.
Some domestic financial institutions who have not yet bought
enough JGBs before the June 20 massive quarterly redemption were
expected to buy superlong JGBs in Tuesday's auction.
Cash trading activity was limited to transactions among
dealers, according to JGB market participants.
At midday, the yield on current 20-year JGBs
was up 0.5 basis point at 1.450 percent, while the 30-year yield
added 1 basis point to 1.715 percent.
The current 5-year and 10-year JGBs had yet to be priced
Ten-year lead June JGB futures moved in a range of
145.42 to 145.51 in the morning session before finishing at
midday up 0.02 point at 145.49 ahead of Wednesday's expiration.
($1 = 102.3500 Japanese Yen)
(Reporting by Masatsugu Hisatsune; Editing by Richard Borsuk)