April 24, 2018 / 4:01 AM / a month ago

JGBs slip as stronger stocks, weaker Treasuries weigh

TOKYO, April 24 (Reuters) - Japanese government bond prices slipped on Tuesday, weighed down by weaker U.S. Treasuries and stronger equities.

The benchmark 10-year JGB yield rose half a basis point to 0.060 percent.

The 20-year yield and the 30-year yield rose by 1 basis point to 0.540 percent and 0.745 percent, respectively.

The 2.1 trillion yen ($19.3 billion) two-year JGB auction on Tuesday managed to attract ample investor demand despite the headwinds facing the bond market, amid expectations that the Bank of Japan would stick with its negative interest rate policy for the foreseeable future.

The bid-to-cover ratio, a gauge of demand, at the two-year auction rose to 5.39 from 4.65 at the previous sale in March.

U.S. bond prices fell on Monday, with the 10-year yield hitting its highest in over four years amid worries about the growing supply of government debt and accelerating inflation as oil and commodity prices climb.

Japan’s Nikkei share average rose to a near seven-week high, with financials leading the gains after the spike in U.S. Treasury yields. ($1 = 108.7700 yen) (Reporting by the Tokyo markets team; Editing by Biju Dwarakanath)

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