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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,709
524hr
Pakistan Cases
1,284,365
17624hr
0.48% positivity
Sindh
475,248
Punjab
442,950
Balochistan
33,479
Islamabad
107,626
KPK
179,928

TOKYO: Japanese government bond prices eased on Tuesday after a 10-year bond auction drew tepid demand, while the market showed a muted response to new Japanese Finance Minister Shinichi Suzuki's comments about a fiscal target.

The Ministry of Finance's offer of 2.6 trillion yen ($23.4 billion) attracted limited bids, with the auction's bid-to-cover ratio falling to 2.45 from 3.36 in the previous auction.

The auction's tail, or the gap between lowest and average price, widened to 0.03 point from 0.02 at the previous auction, another sign of weak demand.

"The results were poor. Yields may have been too low for market players to aggressively bid," said a trader at a Japanese brokerage.

The 10-year JGB yield rose 0.5 basis point to 0.050% while the 20-year yield edged up 1 basis point to 0.435%.

The 30-year JGB yield rose 1 basis point to 0.675%.

At the shorter end, the five-year yield also gained 0.5 basis point to minus 0.095%.

Benchmark 10-year JGB futures fell 0.08 point to 151.53, with a trading volume of 27,313 lots.

Finance Minister Suzuki said the country will aim to bring its primary balance to a surplus by fiscal 2025.

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