TOKYO: Japanese government bond prices were little changed on Thursday, with the market relieved after witnessing decent investor demand for newly auctioned two-year debt.
The benchmark 10-year yield stood unchanged at 0.335 percent.
The yield has gyrated between a record low of 0.195 percent struck in January and a recent peak of 0.450 percent hit earlier this month, with lacklustre auction results proving a catalyst for market volatility on a few occasions.
Auction results have drawn more attention from participants as lower liquidity, a result of massive debt purchases under the Bank of Japan's extensive easing scheme, has made the market more volatile.
The bid-to-cover ratio, a gauge of demand, at Thursday's 2.7 trillion yen ($22.70 billion) two-year sale rose to 4.39 from 4.25 at the previous auction in January.
March 10-year JGB futures was flat at 147.85 after touching a three-week peak of 148.00 on options-related bids, market players said.
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