TOKYO, July 10 (IFR) - Japanese government bond prices were softer on Thursday, following weak results of a 30-year JGB auction, the first auction of that maturity after the Bank of Japan reduced buying in them last month.
The results of the 700 billion yen ($6.9 billion), 30-year JGB auction were weaker than expected, as the lowest accepted price fell short of market expectations.
The tail in the auction was 0.14, wider than 0.07 in the previous auction and the largest level since March. Market players have been worried about softening in demand after the BOJ reduced buying in maturities over 25 years.
The 30-year yield rose 1.5 basis point to 1.715 percent . The 10-year yield rose 0.5 basis point to 0.545 percent.
The price of 10-year JGB futures rose 0.03 point to 145.85 .
$1 = 101.5200 Japanese yen Reporting by Masatsugu Hisatsune; Editing by Jacqueline Wong