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10year JGB Yields at Highest in near 1 Year after Soft Auction

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TOKYO, Feb 16 Reuters Yields on benchmark 10year Japanese government bonds rose on Tuesday to their highest in almost a year after tepid demand at an auction of fiveyear notes raised concerns about waning appetite for fixed income.

Investors submitted bids worth 3.49 times the amount of fiveyear bonds sold, down from a bidcover ratio of 3.83 at the previous auction.

Bond prices have been falling globally as investors shift money into equities and other risky assets, which is placing upward pressure on yields.

Benchmark 10year JGB futures fell 0.06 point to 151.45, with a trading volume of 20,965 lots.

The 10year JGB yield rose 0.5 basis point to 0.080, which is the higest since last March.

The 20year JGB yield was flat at 0.475, and the 30year JGB yield was unchanged at 0.675.

At the long end of the yield curve, the 40year JGB yield held steady at 0.715.

The fiveyear yield rose 1 basis point to minus 0.095.

The twoyear JGB yield was flat at minus 0.130.

Reporting by the Tokyo markets team, Editing by Sherry JacobPhillips

Source Reuters

 

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