August 6, 2018 / 5:21 AM / 10 months ago

JGBs edge up on gains in Treasuries, caution on 30-yr auction limits rise

TOKYO, Aug 6 (Reuters) - Japanese government bond prices edged higher on Monday, drawing support from a rise in U.S. Treasuries, although caution towards an upcoming 30-year auction scheduled later in the week limited the gains.

September 10-year JGB futures were up 0.04 point at 150.16.

The five-year JGB yield was flat at minus 0.080 percent , while the 30-year yield dipped half a basis point to 0.840 percent.

Movement in the JGB market was limited without some of the usual incentives as the Bank of Japan was not scheduled to conduct a regular bond-purchasing operation.

The focus was on whether there would be sufficient investor demand for 700 billion yen ($6.29 billion) of 30-year JGBs which the finance ministry will auction on Thursday following recent market gyrations.

JGB benchmark yields jumped to 1-1/2-year highs last week after the central bank on Tuesday pledged to keep interest rates low for an extended period but also said it will let rates rise further than it previously allowed.

Treasuries gained across the board on Friday on rising U.S.-China trade tensions. ($1 = 111.3300 yen) (Reporting by the Tokyo markets team; Editing by Sunil Nair)

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