JGBs little changed ahead of U.S. inflation data

  • 7/13/2021
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TOKYO, July 13 (Reuters) - Japanese government bond (JGB) prices were little changed on Tuesday, as investors looked to U.S. inflation data due later in the day and after an auction of 20-year JGBs drew a muted response. The 10-year JGB yield was flat at 0.025% while the 20-year JGB yield fell 1 basis point to 0.400%. The 30-year JGB yield was flat at 0.665%. The auction of 1.2 trillion yen ($10.87 billion) 20-year JGBs drew slightly tepid demand, with bid-to-cover ratio falling to 3.51 from 3.62 in previous month. But the lowest accepted price turned out to be slightly above market expectations. “On the whole, the results were close to smooth. The market’s demand-supply balance remains pretty good,” said Makoto Suzuki, senior strategist at Okasan Securities. At the shorter end of the market, the two-year yield fell 0.5 basis point to minus 0.125%, while the five-year yield was flat at minus 0.120%. Benchmark 10-year JGB futures rose 0.06 point to 152.25. ($1 = 110.3500 yen) (Reporting by Tokyo Markets Team; editing by Uttaresh.V) Our Standards: The Thomson Reuters Trust Principles.

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