June 26, 2018 / 6:55 AM / a month ago

JGBs dip after 20-year bond auction sees weak demand

TOKYO, June 26 (Reuters) - Japanese government bond prices eased on Tuesday after an auction of one trillion yen 20-year bonds attracted tepid demand, producing one of the weakest results.

The auction’s tail, or the gap between the lowest and average prices, was 0.08, much larger than 0.02 in the previous auction and the average over the past 12 months of around 0.04.

Demand was limited as yield stayed near 0.50 percent, just above this year’s low of 0.495 percent marked in April.

The 20-year JGB yield rose 0.5 basis point to 0.505 percent.

The 10-year JGB yield also rose 0.5 basis point to 0.030 percent while the price of ten-year JGB futures fell 0.04 point to 150.82, with a trading volume of 19,264 lots.

The 30-year JGB yield rose 1 basis point to 0.715 percent while the 40-year JGB yield rose 0.5 basis point to 0.865 percent. (Reporting by Tokyo Markets Team; Editing by Vyas Mohan)

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