TOKYO, July 10 (IFR) - Japanese government bond prices were
softer on Thursday, following weak results of a 30-year JGB
auction, the first auction of that maturity after the Bank of
Japan reduced buying in them last month.
The results of the 700 billion yen ($6.9 billion), 30-year
JGB auction were weaker than expected, as the lowest accepted
price fell short of market expectations.
The tail in the auction was 0.14, wider than 0.07 in the
previous auction and the largest level since March. Market
players have been worried about softening in demand after the
BOJ reduced buying in maturities over 25 years.
The 30-year yield rose 1.5 basis point to 1.715 percent
. The 10-year yield rose 0.5 basis point to 0.545
The price of 10-year JGB futures rose 0.03 point to 145.85
($1 = 101.5200 Japanese yen)
(Reporting by Masatsugu Hisatsune; Editing by Jacqueline Wong)