October 13, 2017 / 5:03 AM / a year ago

JGBs little changed as bullish stocks weigh but strong auction supports

TOKYO, Oct 13 (Reuters) - Japanese government bond prices were little changed on Friday, as investor interest was largely centered on Japanese equities, but strong liquidity-enhancing auction results lent support.

The benchmark 10-year JGB yield and the 30-year yields were flat at 0.060 percent and 0.865 percent, respectively. The five-year yield edged up half a basis point to minus 0.085 percent.

JGBs were weighed down as Tokyo’s Nikkei joined a rally in global stocks, and touched its highest in 21 years.

The bond market was supported, however, as Friday’s auction conducted regularly by the finance ministry to enhance market liquidity attracted strong demand.

The bid-to-cover ratio, a gauge of demand, at the 550 billion yen ($4.90 billion) auction rose to 3.64 from 2.82 at the previous sale.

$1 = 112.1400 yen Reporting by the Tokyo markets team; Editing by Sherry Jacob-Phillips

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