November 12, 2019 / 4:47 AM / a month ago

JGB prices stumble after weak 30-year auction

TOKYO, Nov 12 (Reuters) - Japanese government bond prices fell on Tuesday after a poorly received auction of 30-year debt sparked concern about demand for longer-dated bonds.

Benchmark 10-year JGB futures fell 0.22 point to 152.80, with a trading volume of 22,005 lots.

The 10-year JGB yield rose 2 basis points to minus 0.050%, while the 20-year JGB yield rose 2 basis points to 0.315%.

The 30-year JGB yield rose 2 basis points to 0.470%. Earlier on Tuesday, Japan’s finance ministry auctioned new 30-year bonds. The bid-to-cover ratio was lower than the previous auction last month, a sign of weakening demand.

The 40-year JGB yield rose 1.5 basis points to 0.495%, close to a five-month high reached earlier on Tuesday.

In the middle of the yield curve, the five-year yield rose 1.5 basis points to minus 0.180%.

At the short end, the two-year JGB yield rose 1 basis point to minus 0.185%. (Reporting by the Tokyo markets team; Editing by Shailesh Kuber)

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