January 19, 2018 / 7:35 AM / in 7 months

JGBs steady to slightly firmer as BOJ operations draw limited interest

TOKYO, Jan 19 (Reuters) - Japanese government bond prices were steady to slightly firmer on Friday after the results of the Bank of Japan’s bond purchase showed limited selling interest.

The price of the 10-year JGB futures ended up 0.01 point at 150.38, while the yield on the cash benchmark 10-year JGBs was flat at 0.075 percent.

The BOJ offered to buy 80 billion yen ($0.72 billion) of JGBs with more than 25 years to maturity, 190 billion yen ($1.71 billion) of those with 10-25 years to maturity and 410 billion yen ($3.7 billion) of 5- to 10-year bonds. The amounts offered were the same as in previous operations.

In all three categories, the quantum of sales by traders was the smallest so far this month, suggesting few investors are eager to sell JGBs at current levels.

With the 10-year JGB yield not far from 0.11 percent, the BOJ’s defence line since it started the yield curve control policy, few market players are eager to sell JGBs at current levels.

The five-year yield dipped 1.0 basis point to minus 0.135 percent while the 20-year yield also dropped 1.0 basis point to minus 0.590 percent.

$1 = 110.87 yen Reporting by Tokyo Markets Team; Editing by Sunil Nair

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