TOKYO: Yields on long-ended Japanese government bonds (JGBs) fell on Thursday, with sentiment boosted by a positive outcome from an auction for 30-year bonds.

The 30-year JGB yield fell 0.5 basis point to 1.260% and the 20-year JGB yield fell 0.5 basis point to 0.890%.

The 40-year JGB yield fell 0.5 basis point to 1.385%.

The auction received bids worth 3.25 times the amount available, higher than a bid-cover ratio of 3.11 at the previous auction.

JGB yields dip ahead of 10-year auction

“There was a caution for the auction result but it turned out to be positive for the market,” said a market participant at a domestic brokerage.

The 10-year JGBs did not traded and the yield remained at0.245%.

The two-year JGB yield fell 0.5 basis point to -0.075%, while the five-year yield was flat at 0.005%.

Benchmark 10-year JGB futures rose 0.09 point to 149.46, with a trading volume of 10,887 lots.