May 7, 2018 / 6:29 AM / a year ago

JGBs barely budge, underpinned by BOJ buying

TOKYO, May 7 (Reuters) - Japanese government bond prices barely budged on Monday ahead of a 10-year bond auction the following day, though expectations of continued buying by the Bank of Japan underpinned the market.

The BOJ kept the size of its buying in short and super-long JGBs unchanged on Monday from previous operations.

The 10-year JGB futures rose 0.03 point to 150.86, with a meagre trading volume of 14,747 lots, one of the lowest levels so far this year.

The benchmark cash 10-year JGBs were flat at 0.040 percent in the afternoon after seeing no trades in the morning.

The Ministry of Finance will offer 2.2 trillion yen of 10-year JGBs through an auction on Tuesday.

The 20-year JGB yield rose 0.5 basis point to 0.520 percent while the 30-year JGB yield rose 0.5 basis point to 0.730 percent. (Reporting by Tokyo Markets Team; Editing by Sunil Nair)

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