TOKYO: JGBs inch up as yesterday's 30-year JGB auction drew moderate demand despite a technical glitch at key interdealers and as investors take cues from rise in US debt after weak results from JPMorgan Chase & Co pushed share prices lower.
But gains are limited on the view that investors' stance towards risk assets may recover in the near term as Europe is showing signs of accelerating efforts to shore up the euro zone banking sector and limit the damage from the region's spreading sovereign debt crisis.
Dec 10-yr JAB futures edge up 0.07 pt to 142.31, staying below the upper end of the Ichimoku cloud at 142.53 today. "Superlongs are supported as yesterday's auction was managed smoothly, but futures selling from short-term players who trade on charts is likely weighing," says a trader at a US brokerage firm.
Ten-yr yield inches down 0.5 bp to 1.010pc , while the 20-yr yield declines 1.5 bps to 1.715pc.
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