JGBs steady as stocks pause, caution before auction limits moves
TOKYO, Jan 23 (Reuters) – Prices of most Japanese government bonds were steady on Wednesday, supported by a pause in the stock market, but confined to a narrow range ahead of an upcoming 20-year debt auction.
The five- and 20-year JGB yields were unchanged at minus 0.160 percent and 0.455 percent, respectively.
The finance ministry will offer 1 trillion yen ($9.12 billion) of 20-year JGBs on Thursday.
The 30-year yield dipped 1 basis point to 0.670 percent.
The Bank of Japan on Wednesday retained its ultra-easy monetary policy and cut its inflation forecasts. The JGB market’s reaction was limited as the outcome of the BOJ policy meeting was well anticipated.
Japan’s Nikkei was down 0.1 percent, pulling further away from a one-month high scaled at the start of the week as concerns over global growth and U.S.-China trade relations weighed on the broader markets.
($1 = 109.6000 yen) (Reporting by the Tokyo markets team; Editing by Subhranshu Sahu)
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