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JGBs gain after solid 10-year debt auction

TOKYO, Aug 4 – Most Japanese government bond prices rose on Tuesday as a successful 10-year debt sale offset a rally in Tokyo equities.

The bid-to-cover ratio, a gauge of demand, at the 2.6 trillion yen ($24.51 billion) 10-year debt sale was at 3.64, little changed from the previous auction’s 3.66.

Following the auction result, benchmark 10-year JGB futures added 0.15 point to 152.37, with a trading volume of 23,299 lots, while the 10-year JGB yield fell 1 basis point to 0.010%.

The 20-year JGB yield edged down half a basis point to 0.390%.

The 30-year JGB yield was unchanged at 0.550%.

At the shorter end of the curve, the two-year JGB yield stood flat at minus 0.140%, while the five-year yield lost 1 basis point to minus 0.125%. ($1 = 106.0600 yen) (Reporting by Tokyo Markets Team; Editing by Aditya Soni)

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