January 10, 2019 / 6:11 AM / a month ago

Superlong JGBs firmer as 30-yr bond auction draws robust demand

TOKYO, Jan 10 (Reuters) - Longer-dated Japanese government bond prices edged higher on Thursday, taking positive cues from a well-received 30-year debt auction.

The 30-year notes were sold at the lowest price of 99.60, higher than market expectations, and the auction drew bids of 4.03 times the amount offered.

The 30-year and the 40-year yields declined by one basis point each to 0.690 percent and 0.810 percent, respectively, while the 20-year yield dipped 1.5 basis point to 0.485 percent.

The benchmark 10-year yield traded flat at 0.025 percent, after hitting its lowest level in more than two years of minus 0.050 percent on Friday.

Ten-year JGB futures gained 0.11 point to 152.51, with a trading volume of 39,781 lots. (Reporting by Tokyo Markets Team; Editing by Sherry Jacob-Phillips)

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