July 3, 2018 / 4:13 AM / in 20 days

JGBs dip on weaker Treasuries, ample demand for new 10-yrs limits losses

TOKYO, July 3 (Reuters) - Japanese government bond prices dipped on Tuesday, weighed down by an overnight retreat by U.S. Treasuries, although a 10-year debt auction attracted ample investor demand and helped limit the losses.

The five-year and 10-year JGB yields were half a basis point higher at minus 0.115 percent and 0.025 percent , respectively.

September 10-year JGB futures were down 0.01 point at 150.93, off a low of 150.89 plumbed earlier.

The bid-to-cover ratio, a gauge of demand, at Tuesday’s 2.2 trillion yen ($19.85 billion) 10-year auction, was 4.37 - above the average ratio of 4.18 from the previous ten auctions.

Factors including global trade tensions and the likelihood that the Bank of Japan would stick to its massive debt-buying scheme were seen to have generated demand for the new 10-year JGBs. ($1 = 110.8400 yen) (Reporting by the Tokyo markets team; Editing by Sunil Nair)

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