TOKYO, July 28 (IFR) - Japanese government bond prices
ticked up on Monday, supported by rise in U.S. bond prices and
buying in the long end from investors who gave up waiting for
The 10-year cash bond yield dipped 0.5 basis point to 0.520
percent while the 10-year futures price rose 0.09
point to 146.00.
Many investors hesitate to buy 10-year paper near the yield
of 0.50 percent, thinking that the scope for an immediate
downside move in yield seems to be limited and looking for
longer maturities instead.
The 30-year yield dipped 1.0 basis point to 1.645 percent
One market player said that the latest evidence for investor
appetite for superlong bonds was seen at last week's 20-year
auction which drew demand not only from pension funds and life
insurers but also from some regional banks.
Participants expect yields to remain under downward pressure
this week as the BOJ is expected to undertake JGB purchasing
operations on Wednesday and as month-end buying by pension funds
is expected to appear on Thursday.
(Reporting by Takahiro Okamoto; Editing by Eric Meijer)