October 22, 2018 / 5:27 AM / a month ago

JGBs dip slightly ahead of BOJ's meeting with market players

TOKYO, Oct 22 (Reuters) - Japanese government bond prices dipped slightly on Monday on caution that the Bank of Japan could float changes to allow bigger moves in the market at its meeting with market players the following day.

The meeting will take place amid rising view that the central bank might be thinking of tweaking its market operations to make the bond market more lively.

The BOJ in late July decided to allow a greater flexibility in the bond market, saying the 10-year yield could move up to 0.2 percentage point away from its target of zero percent, but market volatility has hardly risen since then.

Thus some markets players speculate the BOJ could hint at making minor tweaks such as stopping the pre-announcement of its bond operation schedule.

Ten-year JGB futures fell 0.03 point to 150.19, though trading volume was thin 8,168 lots by late afternoon trade.

The benchmark 10-year JGB yield is not traded yet, while the 20-year JGB yield rose 1 basis point to 0.690 percent. (Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu)

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