September 13, 2018 / 5:04 AM / 6 months ago

Longer-dated JGBs slip as rallying stocks dim allure of safe-haven debt

TOKYO, Sept 13 (Reuters) - Longer-dated Japanese government bond prices slipped on Thursday as a rally in Tokyo stocks dimmed the allure of safe-haven debt.

The benchmark 10-year JGB yield rose 0.5 basis point to 0.110 percent. The 30-year yield was also 0.5 basis point higher, at 0.835 percent.

Shorter-dated JGBs, on the other hand, received some support after a five-year debt auction attracted firm investor demand.

The bid-to-cover ratio, a gauge of demand, at the 2 trillion yen ($17.95 billion) five-year sale rose to 5.53 from 3.95 at the previous auction in August.

The new five-year JGBs were seen to have drawn demand from both domestic and foreign investors.

The five-year yield stood unchanged at minus 0.070 percent .

The Nikkei rallied to a near two-week high after news of a fresh round of trade talks between China and the United States lifted risk appetite. ($1 = 111.4100 yen) (Reporting by the Tokyo markets team; Editing by Subhranshu Sahu)

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