January 17, 2018 / 5:58 AM / 10 months ago

JGBs dip on subdued BOJ debt-buying operation

TOKYO, Jan 17 (Reuters) - Japanese government bond prices dipped on Wednesday, anchored down by a bearish footing to the Bank of Japan’s regular debt-buying operation.

The five-year yield climbed 1 basis point to minus 0.080 percent and the benchmark 10-year yield rose 0.5 basis point to 0.080 percent.

The BOJ on Wednesday bought 550 billion yen ($4.96 billion)of one- to five-year JGBs as part of its regular debt-purchasing operation.

The operation showed that bond investors were willing to sell JGBs to the BOJ at prices slightly below market levels, showing that views towards the debt market going forward are more bearish rather than bullish.

The JGB market has also been weighed down by a succession of auctions taking place in a short time. The finance ministry has already issued 10-year, 40-year and five-year JGBs totalling five trillion yen ($45.11 billion) over the past week and plans to sell 800 billion yen of 30-year bonds on Thursday.

$1 = 110.8400 yen Reporting by the Tokyo markets team; Editing by Sherry Jacob-Phillips

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