June 21, 2018 / 4:32 AM / a month ago

JGBs dip amid lull in Sino-U.S. trade conflict

TOKYO, June 21 (Reuters) - Japanese government bond prices slipped on Thursday, as a lull in China-U.S. trade conflict soothed nerves and curbed investor demand for safe-haven debt.

JGBs were pressured as Japanese stocks stretched gains amid the continuing ebb in risk aversion with the Nikkei rising 0.65 percent.

The benchmark 10-year JGB yield rose half a basis point to 0.035 percent.

The 30-year yield climbed 1 basis point to 0.720 percent .

With the broader JGB market on the back foot investor demand was lukewarm for the 2 trillion yen ($18.09 billion) of five-year JGBs auctioned on Thursday.

The bid-to-cover ratio, a gauge of demand, at the five-year auction slipped to 3.88 from 4.22 at the previous sale in May.

$1 = 110.5700 yen Reporting by the Tokyo markets team, Editing by Sherry Jacob-Phillips

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