August 9, 2018 / 6:52 AM / 2 months ago

JGBs steady; 30-year auction attracts demand

TOKYO, Aug 9 (Reuters) - Japanese government bond prices were little changed on Thursday, but bonds with 30 years to maturity firmed due to an upward pull from a well-received auction, and underpinned solid demand at current levels.

The auction drew bids 4.68 times the offer, higher than the average bid-to-cover ratio of 4.135 from the previous 12 auctions, while the lowest accepted price was in line with market expectations at 96.35.

Ten-year JGB futures eased 0.03 point to 150.07, with a trading volume of 24,606 lots.

The benchmark 10-year JGB yield inched up half a basis point to 0.110 percent, while the 20-year yield fell half a basis point to 0.620 percent.

The 30-year JGB yield dropped 1 basis point to 0.850 percent, a day after it climbed 0.860 percent, its highest level since early November.

$1 = 111.00 yen Reporting by Tokyo Markets Team; Editing by Sherry Jacob-Phillips

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