August 22, 2017 / 4:16 AM / a year ago

Super-long JGBs pare losses, edge up after solid 20-yr auction

TOKYO, Aug 22 (Reuters) - Longer-dated Japanese government bond prices trimmed earlier losses and edged up on Tuesday after an auction of 20-year debt attracted solid demand from investors.

The 20-year yield fell half a basis point to 0.545 percent after reaching 0.550 percent earlier, while the 30-year yield was down 1 basis point at 0.830 percent following an earlier rise to 0.845 percent.

The bid-to-cover ratio, a gauge of demand, at Tuesday’s one trillion yen ($9.15 billion) 20-year sale rose to 4.51 from 4.19 at the previous auction in July.

Super-long JGBs enjoy a degree of demand from investors due to their relatively higher yields, with the benchmark 10-year yield roughly bound close to zero percent under the Bank of Japan’s yield curve control scheme, analysts said.

The 10-year yield was half a basis point higher at 0.035 percent. ($1 = 109.2300 yen) (Reporting by the Tokyo markets team; Editing by Sunil Nair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below