JGBs slip as BOJ buys fewer long bonds

TOKYO, March 24 Japanese government bond prices
slipped on Thursday, with the superlong zone underperforming
after the Bank of Japan bought fewer than expected longer bonds
in its purchase operations.

The central bank reduced its purchase amounts in JGBs
maturing in 10- to 25-years, and in 25- to 40-years, by 200
billion yen ($1.77 billion) in each zone.

It offered to buy 400 billion yen of JGBs maturing in 1- to
3-years, 420 billion yen of JGBs maturing in 3- to 5-years, 240
billion yen of JGBs maturing in 10- to 25-years zone, and 160
billion yen of JGBs maturing in over 25 years.

The benchmark 10-year JGB yield added 2 basis points to
minus 0.090 percent, while the yield on the
20-year JGB added 7 basis points to 0.415 percent
.

The 30-year JGB yield added 10 basis points to 0.540 percent
, moving away from a record low of 0.415 percent
on Tuesday.

June 10-year JGB futures were flat at 151.86.

Japan’s Ministry of Finance has floated a plan to reduce the
issuance of inflation-linked Japanese government bonds (JGB) at
its next auction schedule for April 12 to 400 billion yen from
an originally planned 500 billion yen, a senior ministry
official told a briefing on Wednesday.

The price of the inflation-linked JGBs has faced pressure as
fears of a global economic slowdown and weak crude oil prices
prompted investors to lower their inflation expectations. The
BOJ’s negative interest rate policy unveiled in late January
also weighed on prices.

($1 = 112.8000 yen)

(Reporting by Tokyo markets team; Editing by Shri Navaratnam)

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Source URL:http://www.reuters.com/article/japan-bonds-idUSL3N16W29H

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