Most JGB yields flat after 30-year note auction

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TOKYO, Oct 12 (Businesshala) – Most Japanese government bond yields remained flat on Tuesday after modestly solid 30-year currency notes auction results, and investors remained cautious about a rise in US Treasury yields.

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The 10-year JGB yield was flat at 0.09%, while the 20-year JGB yield was unchanged at 0.47%.

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The auction received bids worth 2.9 times the sold amount, less than three times the book-cove-ratio in the previous auction.

One market participant said the result was seen as “moderately solid”, but it did not prompt investors to make active bids as they were cautious about an increase in US yields.

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The two-year Treasury yield rose to an 18-month high during Asian trading, while the 10-year yield has now climbed nearly 30 basis points in three weeks. US bond markets were closed on Monday for a holiday.

In Japan, the 30-year bond yield rose 0.5 basis points to 0.7%, while the 40-year yield was flat at 0.78%.

The five-year bond yield was flat at minus 0.08%, while the two-year bond yield was unchanged at minus 0.12%.

The benchmark 10-year JGB futures rose 0.05 points to 151.25.

Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu

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