TOKYO: Longer-dated Japanese government bond prices edged higher on Tuesday as the market witnessed firm investor demand at a 20-year debt auction.
The benchmark 10-year JGB yield was unchanged at minus 0.060 percent. The yield had been at minus 0.055 percent earlier in response to an overnight rise in U.S. Treasury yields.
The 30-year JGB yield fell half a basis point to 0.485 percent.
The bid-to-cover ratio, a gauge of demand, at Tuesday's 1.1 trillion yen ($10.53 billion) 20-year JGB sale rose to 3.49 from 3.33 at the previous auction last month.
Traders said the 20-year debt attracted demand as the steepening of the curve, which had pushed yields of longer-dated paper higher, was slackening off amid reduced expectations towards the Bank of Japan lowering interest rates further next month.
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