September 28, 2018 / 5:49 AM / 3 months ago

JGBs slip as Japan stocks advance to 27-year high

TOKYO, Sept 28 (Reuters) - Japanese government bond prices slipped across the board on Friday as Tokyo stocks advanced to a 27-year high, dimming the appeal of safe-haven debt.

The JGB 10-year yield rose 1 basis point to 0.125 percent .

The 40-year yield climbed 2 basis points to 1.065 percent .

There was also caution ahead of Bank of Japan’s monthly bond operation guideline announcement later in the day as some participants were concerned that the BOJ may indicate a slight reduction in the amount of JGBs it purchases next month.

With the market on the defensive, the bid-to-cover ratio, a gauge of demand, at Friday’s 2.1 trillion yen ($18.50 billion) two-year auction declined to 4.37 from 5.26 at the previous sale in August.

Japan’s Nikkei rallied to near 27-year highs after risk appetite bounced on the back of confidence in the U.S. economy, while hopes of improved earnings for Japan Inc. underpinned sentiment.

$1 = 113.5000 yen Reporting by the Tokyo markets team; Editing by Vyas Mohan

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