October 31, 2018 / 5:25 AM / 14 days ago

JGBs dip as equities rise, dent safe-haven appeal

TOKYO, Oct 31 (Reuters) - Japanese government bond prices dipped on Wednesday as Tokyo’s benchmark equity index was poised to rise for a second straight session after several sessions of declines and dampened demand for safe-haven debt.

There was also caution ahead of the Bank of Japan’s monthly bond operation guideline announcement later in the day as the central bank may indicate it would trim Japanese government bond (JGB) purchases slightly next month.

Ten-year JGB futures dipped 0.06 point to 150.65, moving away from a three-month high of 150.80 hit at the beginning of the week.

Yields on cash 10-year JGBs advanced 1 basis point to 0.125 percent and the 20-year JGB yield rose 1.5 basis point to 0.650 percent.

The 30-year JGB yield and 40-year JGB yield also gained 1.5 basis point each to 0.870 percent and 1.035 percent, respectively.

JGB prices took a cue from moves in U.S. Treasury bonds, which fell modestly in light trading overnight, helped by a recovery on Wall Street.

Reporting by Tokyo Markets team, Editing by Sherry Jacob-Phillips

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