2 Minute Read by Reuters Staff (Reuters) – TOKYO, July 13 (Reuters) – On Tuesday, Japanese government bond (JGB) prices were little changed as investors awaited U.S. inflation data later in the day, and after a 20-year JGB auction got a lackluster response. The yield on the 10-year JGB remained unchanged at 0.025 percent, while the yield on the 20-year JGB declined 1 basis point to 0.400 percent. The yield on 30-year JGBs was unchanged at 0.665 percent. The 1.2 trillion yen ($10.87 billion) 20-year JGB auction garnered slightly lukewarm demand, with the bid-to-cover ratio slipping to 3.51 from 3.62 the month before. However, the lowest approved price ended up being significantly higher than market estimates. “Overall, the outcomes were near to perfect. The market’s demand-supply balance is still in good shape “Makoto Suzuki, senior strategist at Okasan Securities, echoed this sentiment. The two-year yield dropped 0.5 basis point to minus 0.125 percent, while the five-year yield remained unchanged at minus 0.120 percent. 10-year JGB futures gained 0.06 point to 152.25. (1 dollar Equals 110.3500 yen) (Tokyo Markets Team contributed reporting; Uttaresh.V edited the piece.)/n
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