TOKYO, Dec 4 (Reuters) - Japanese government bond prices slipped on Monday, taking cues from a fall in U.S. Treasuries after the U.S. Senate approved a tax overhaul during the weekend in a major step for President Donald Trump’s tax cut plans.
Investors were also cautious ahead of an auction of 2.3 trillion yen ($20.4 billion) ten-year JGBs on Tuesday and a 800 billion yen ($7.1 billion) 30-year JGB auction on Thursday.
The 10-year JGB yield rose 0.5 basis point to 0.035 percent . It has stayed in a narrow range between 0.020 and 0.050 percent in the past month.
The price of the benchmark 10-year JGB futures dropped 0.09 point to 150.93.
The 20-year yield rose 1.0 basis point to 0.580 percent while the 30-year bond yield also ticked up 1.0 basis point to 0.840 percent.
The rise in JGB yields came as U.S. bond yields rose on hopes of tax cuts for businesses in the United States.
Japanese bonds showed no reaction to a barrage of comments from Bank of Japan Governor Haruhiko Kuroda on Monday.
Kuroda said the BOJ introduced the yield curve control policy last year because too flat an yield curve would not be desirable for financial stability.
$1 = 112.80 yen Reporting by Tokyo Markets Team; Editing by Amrutha Gayathri