JGB yields fall as auction draws strong demand
TOKYO, May 20 (Reuters) - Japanese government bond (JGB)
yields fell on Friday, tracking U.S. Treasury peers lower, after
an auction drew solid demand.
The 10-year JGB yield fell 0.5 basis point to
0.235% and the 20-year JGB yield fell 2 basis
points to 0.740%.
The auction for 20-year notes received bids worth 3.77 times
the amount sold, higher than a bid-cover ratio of 3.10 at the
previous auction.
"The auction results were good. There was demand from those
who wanted to cover their short positions. Also the current
yield level, which supported by downturn trend of overseas
yields, was attractive," said a market participant at a domestic
brokerage.
The 30-year JGB yield fell 1.5 basis points
to 0.990%.
The 40-year JGB yield fell 1.5 basis points
to 1.110%.
The two-year JGB yield was flat at -0.060%.
The five-year yield fell 0.5 basis point to
0.010%.
Benchmark 10-year JGB futures rose 0.17 point to
149.77, with a trading volume of 22,871 lots.
(Reporting by Tokyo markets team)
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