March 18, 2019 / 5:56 AM / 7 months ago

JGBs steady to slightly firmer; eyes on auction, Fed

TOKYO, March 18 (Reuters) - Japanese government bonds were steady to slightly higher on Monday after U.S. Treasury yields dipped to 10-week lows as a softer-than-expected data underpinned hopes that the U.S. central bank will hold rates steady.

Trading was slow with the benchmark 10-year cash JGBs untraded until late afternoon, with many investors looking to Tuesday’s 20-year JGB auction as well as the U.S. Federal Reserve’s policy meeting ending on Wednesday.

Ten-year JGB futures rose 0.01 point to 152.80. Benchmark cash 10-year JGBs was flat at minus 0.040 percent.

The 20-year JGB yield was flat at 0.395 percent while the 30-year JGB yield was also unchanged at 0.570 percent.

The market was unmoved by data showing Japan’s exports fell for a third month in February. (Reporting by Tokyo Markets Team; Editing by Shreejay Sinha)

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