JGBs dip on fall in US Treasuries, caution on 20-yr auction

TOKYO: Japanese government bond prices dropped on Wednesday, tracking a slide in U.S. Treasuries as well as caution ahead of a 20-year JGB auction.

Ten-year JGB futures fell 0.04 point to 150.16 while the 10-year benchmark cash JGB yield rose 0.5 basis point to 0.115 percent.

The 10-year JGB yield touched a six-week high of 0.120 percent in the session, as the 10-year U.S. yield hit a four-month high above 3.05 percent.

The 20-year JGB yield and the 30-year JGB yield both rose 0.5 basis point to 0.620 percent and to 0.850 percent, respectively.

The benchmark two-year JGB yield rose 0.5 basis point to -0.110 percent.

The Bank of Japan maintained its policy on Wednesday as expected.