November 26, 2019 / 7:37 AM / 11 days ago

JGBs inch up as 40-year debt auction attracts ample demand

TOKYO, Nov 26 (Reuters) - Japanese government bond (JGB) prices edged higher on Tuesday, taking positive cues from a 40-year bond auction which attracted ample investor demand.

Benchmark 10-year JGB futures rose 0.11 point to 153.32, with a trading volume of 25,729 lots.

The key 10-year cash JGB yield fell 1 basis point to minus 0.100%.

The bid-to-cover ratio, a gauge of demand, at Tuesday’s 400 billion yen ($3.7 billion) 40-year JGB sale rose to 3.50 from 2.69 at the previous auction in October.

In the super-long zone, the 40-year yield dropped 3 basis points to 0.440%, while the 30-year yield declined 2.5 basis points to 0.410%. The 20-year yields fell 2 basis points to 0.255%.

Elsewhere, the five-year yield eased half a basis point to minus 0.200%, while the two-year JGB yield stood flat at minus 0.190%. ($1 = 108.6400 yen) (Reporting by the Tokyo markets team; editing by Uttaresh.V)

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