May 28, 2015 / 6:47 AM / 2 years ago

JGBs edge down on profit-taking, short paper firm

TOKYO, May 28 (Reuters) - Japanese government bond prices mostly ticked lower on Thursday on profit-taking, though short-term paper firmed after solid results in a two-year JGB auction.

The 10-year cash Japanese government bond yield rose 1.0 basis point to 0.395 percent while the 20-year JGB yield increased 3.5 basis point to 1.215 percent .

The move is a reversal of yield falls on Wednesday, when expectations of month-end buying by pension funds supported the market.

Still, the shorter end of the market was firmer, with the two-year yield falling 1.5 basis points to minus 0.020 percent , hitting a one-month low.

The price of 10-year JGB futures, which reflects the cheapest-to-deliver seven-year sector, were down 0.01 point at 147.58.

Reporting by Tokyo Markets Team; Editing by Kim Coghill

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